Ambitious plans including setting up a star hotel have been drawn up by MAK Associates, which has secured the contract for developing the commercial space of the bus terminal complex of the Kerala State Road Transport Corporation ( KSRTC) on the Mavoor Road here.
The company, run by an eight-member Non-Resident Indian group, has decided to develop the 50,000 sq ft space on the ground floor initially. “Our plan is to develop this space like the famed Sweet Meat Street [S.M. Street] where ordinary people would engage in shopping. Hopefully, we can begin operations in two months,” said K.V. Moideen Koya, managing partner.
After a legal battle, the Kerala Transport Development Finance Corporation (KTDFC), which has constructed the complex for the KSRTC, leased out the commercial space to the company. It will get 2, 26,000 sq ft commercial space out of the total space of 3,87,747 sq ft in the complex.
Flooring, electrification and demarcation of space should be customised for the prospective clients.
“The twin towers should be made rentable in another six months. Several companies have evinced interest in the project and they have approached us with profitable proposals,” Mr. Koya said.
Air-conditioned and non- air-conditioned dormitory facilities would be set up in 8,000 sq ft space in one tower. Plans have been afoot to rent out 300 shops.
A few educational institutions and entrance coaching centres have also asked for spaces. One of the towers would be an exclusive star hotel.
Modalities are still being worked out, he said.
