The proposal for an underground parking facility on Venkatnarayana Road in T. Nagar has moved forward with the consultant appointed by the Chennai Corporation submitting a report.
The consultant, who was to conduct a traffic survey and study commercial viability of the parking lot, has suggested that the facility should have three floors, two for parking and the other for commercial establishments. The three floors will have a built up area of 2,935 sq mt each. A total of 252 cars can be parked simultaneously.
The facility has been proposed below the Corporation playground opposite the Dr. Natesan Park. The ground, which has a basketball court, will remain untouched.
According to the report, the facility is estimated to cost Rs.20.16 crore and will take 18 months for implementation. Parking operations will be semi-automatic. Cars will be moved up and down in lifts.
The facility will be implemented on a design, build, operate and transfer basis. The period of concession will be 30 years and the operator has to pay Rs.15 lakh a year to the Corporation. The traffic study found that on an average during a given weekend, 279 cars and 1,185 two wheelers require parking space in and around Venkatnarayana Road.
The report will be placed before a technical committee of the civic body. It will then be placed before the Council for approval. Later, the tender for the project will be floated, according to sources in the Corporation.