M.L. Melly Maitreyi

`Tenders for multi-level car parking by month-end'

  • The parking area is allotted to Prasads Imax management
  • Rs. 93,800 monthly rent fixed for it

    HYDERABAD: Has the Hyderabad Urban Development Authority been too generous in giving away a high-revenue yielding parking area adjacent to the Prasad Imax for a nominal rent?

    This is the view that is gaining ground over the allotment of vacant area turned parking lot to Prasads Imax.

    HUDA recently allotted the valuable site adjacent to Imax on one-year lease to the Imax management for providing additional parking space and ease congestion on the road. A monthly rent of Rs. 93,800 was fixed for the parking area allotted to Imax on the basis of the lease amount given for the parking site opposite Imax.

    However many argue that the rent being collected from Imax is nominal vis-à-vis the high revenue earned from the parking area.

    Earlier four parking areas, one opposite Prasads Imax, NTR Garden East, West and NTR Memorial were together given as a single lot for one-year lease for Rs. 2.53 lakhs a month and the lease expired in August.

    Official version

    HUDA Vice-Chairman Jayesh Ranjan however clarified that the exclusive parking area provided to Imax was an `extremely temporary' facility and the moment multi-level-car-parking facility near NTR Gardens comes up, the place would be taken over by HUDA.

    "Every evening the place becomes a traffic nightmare with no adequate space for parking. Our intention is to ease traffic congestion and create convenient parking facility for the public coming to the theatre," he said.

    He also said that the lease rent was fixed based on the amount being collected for similar parking lots. The lease amount would be revised on par with other parking areas for which tenders would be invited shortly, he said.

    The tenders for the multi-level car-parking facility would also be invited by month-end, he added.


    Meanwhile it is learnt that the present lease holder of four parking lots, including the one opposite the Imax, while asking for renewal appealed to BPPA to reduce the rent amount as his revenue declined with the sanction of new parking facility to Imax.

    However BPPA In-charge Special Officer Sridhar said that the lease amount could not be reduced.