Kolkata Metropolitan Development Authority, on March 6, 2008, signed a concession agreement with city-based Simplex Projects Ltd for a multi-level car parking project at Salt Lake in Kolkata. The car park, to come up within 18 months, will be amongst the largest in the capital city.
Speaking to Projectmonitor, Kalyan Roy, Director, Socio-Economy, KMDA, said that the project would come up on BOT basis under a 30-year concession agreement with the authority. Discussing details, Roy said that KMDA would not have an equity stake in the project or any share in the revenues generated by the project. The concessionaire will pay a fee of around Rs 25 crore to KMDA for conceding the project. Roy added that the six-storey car park with two basement floors would accommodate around 600 vehicles. The project coming up on around one acre of land is expected to cost Rs 50 crore.
To make the project commercially viable, KMDA has allowed the developer to use an equivalent of 15 per cent of the built-up area for commercial development. Accordingly, Simplex Projects Ltd is likely to enter into a memorandum of understanding with the Future (Pantaloon) Group to lease a commercial complex in the vicinity.
Roy also added that this was the first time that a concessionaire has been selected for a car park in Kolkata using the competitive bidding route. Kolkata Municipal Corporation is also pursuing a couple of car park projects on BOT basis, he observed.

Contact: Simplex Projects Ltd, 12/1, Nellie Sengupta Sarani, Kolkata, West Bengal 700087. Tel: 033-22527231/32; Fax: 033-22528013; E-mail: general@simplexprojects.com