The Calicut Development Authority’s (CDA) formula of projecting heritage spaces as key business hubs and public facilities after giving them a facelift through innovative investment models such as land pooling has attracted attention on the first day of the ‘Partner Kerala’ meet in Kochi.
Union Minister for Overseas Indian Affairs Vayalar Ravi inaugurated the two-day meet, aimed at attracting investors for partnering the urban local bodies in development projects, in Kochi on Monday.
Minister for Urban Affairs Manjalamkuzhi Ali presided. Projects of Kollam, Thiruvananthapuram, Thrissur, and Kozhikode were presented.
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Speaking over phone on the sidelines of the investors’ meet, CDA secretary A.M. Jayan said that investors had been approaching with enquiries on the nine projects presented by the authorities, especially the one for a more spacious and planned Palayam Junction.
The Palayam project proposes to use the technique of land pooling, which assembles small land parcels in the area and consolidates them into one. Infrastructure will be developed on this land in a planned manner and will be returned to the owners, after deducting the cost of the provision of infrastructure and supplements.
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But Mr. Jayan said the development model had considerable challenges ahead, taking into consideration the large number of tenants concentrated in small, cramped pockets like Palayam.
However, end benefits, if the Rs.865.60 crore Palayam junction project is successfully implemented, include increased Floor Area Ratio and ready availability of enhanced facilities without paying a penny towards land costs.
Other proposalsOther heritage spaces mooted for a facelift are Mananchira for an estimated Rs.280 crore, SM Street for Rs.330 crore, Kallai Road widening for Rs.17.3 crore and a parking plaza at South Beach at an estimated Rs.90 crore.
Mr. Jayan said the other public private participation projects from the district, which evinced investors’ interest included a Rs.14.8-crore project for constructing studio apartments and hostel for working women, a Rs.3-crore project for a warehouse, near Beypore Port, and a Rs.500-crore one for a multi-purpose sports complex here.
“We have presented projects to the tune of over Rs.2,800 crore. On Tuesday, we will have more direct interactions from suitable investors,” Mr. Jayan said.