New shopping complex coming up in Tirupati

TIRUPATI. June 1. The Tirupati Municipality has set in motion the process of demolishing its 102-year-old municipal office building located at the Krishnapuram Thana area and constructing in the place a huge shopping complex at an estimated cost of Rs.95 lakhs provided by the HUDCO under its small and medium towns development project. This is in addition to the one already nearing completion in the same area on the other side of the road.

Municipal authorities led by the chairperson, K.Sankar Reddy, on Tuesday inspected the work sites and expressed satisfaction at the pace of the work. Both buildings would have two floors in addition to the ground floor and the cellar for use as the car parking in the busy shopping area. While shopping malls would come up on the ground floor, the first and the second floors would be rented-out to banks, corporate schools/colleges, office buildings etc. These apart, the municipality proposed to build shopping malls if necessary wherever a vacant municipal site existed as it was becoming extremely difficult for the municipality to protect vacant sites from land-grabbers.

The municipality's idea is to complete all the shopping malls by the year-end and make them net at least a crore of rupees by way of rent to meet its cash crunch.