KMRL awaits govt nod for metro’s township project in Kakkanad
The Kochi Metro Rail Ltd (KMRL) continues to wait for a formal approval from the state government regarding the construction of an integrated township at Kakkanad. The project, which is to come up at the 17 acres at Kakkanad, is expected to generate a revenue of Rs 300 crore. Metro agency targets to generate this additional revenue from the sale of residential apartments, commercial space and other amenities .
“The state government is in favour of providing the land at Kakkanad to KMRL. The matter has been discussed at the meetings held with chief secretary. The implementation of the project is crucial for generating additional revenue for the Metro agency for the smooth operations of Kochi Metro,” said KMRL managing director A P M Mohammed Hanish.
According to KMRL officials, they plan to raise the funds required for implementing the project from banks, financial institutions and from investors. The Metro agency’s plan is to construct apartments ranging from 800 sq ft to 1,000 sq ft.
Pointing out the urgency in executing the township project a KMRL official said, “The government should take a formal decision without much delay. Metro networks across the world depend on the income generated from alternate sources.” As the land belongs to PWD there is no issue related to land acquisition.