Kodambakkam to get commercial complex within proposed multi-level parking facility

CHENNAI: The Greater Chennai Corporation (GCC) has roped in a private party to establish a commercial complex within the premises of Multi Level Parking (MLP) at Kodambakkam and has fixed the parking fee at Rs 15 for two-wheelers and Rs 60 for four-wheelers, making it clear that the fee will be doubled for every one hour.

To address the growing parking crisis across the city, the local body recognised the need to develop multi-level parking facilities at various sites through the Public Private Partnership (PPP) model. As part of this project, the MLP construction on the GCC land to an extent of 1,667 square meters (site area) at Kodambakkam was announced in March, with the capacity of 422 parking spaces for two-wheelers and 75 parking spaces for four-wheelers.

The tender process for the project is under way, and the successful bidder will be allowed to establish commercial complexes or retail spaces at the site.

On the other hand, the GCC also fixed the parking fee at Rs 15 for two-wheelers for an hour and Rs 60 for four-wheelers; it will double for every additional hour, said the local body. It was also made clear that the parking rate will be increased at a rate of 15 per cent for every three months.

The concessionaire is responsible for designing, engineering, financing, procurement, construction, operation, and maintenance of the project following the provisions of a long-term concession agreement for 25 years. It may be noted that a similar MLP is to be set up at Tiruvottiyur near the municipality dispensary complex to an extent of 1,563 square meters.

According to the tender, the concessionaire should hand over the site along with all the developments to the authorities at free cost after the completion of the agreement period.