The Kochi Metro Rail Ltd (KMRL) has initiated the process of leasing 17.43 acres of land within the proposed Bliss City project in Kakkanad. This move is intended to expedite the development of the mixed-use project, which originally included plans for a medical city and entertainment hub. The decision to lease this portion of the land came after investors showed interest in residential development, which did not align with KMRL's vision. The remaining 14 acres of land within Bliss City are under discussion, with the possibility of them being used for IT infrastructure to support Infopark's needs.
The Kochi Metro Rail Ltd (KMRL) has taken swift action to advance the development of the proposed Bliss City project in Kakkanad by issuing e-tenders for leasing land in the vicinity. This move is aimed at expediting the procedures for the ambitious mixed-use development. The KMRL has initiated the leasing process for a total of 17.43 acres of land located at Kunnumpuram, adjacent to the collectorate, for the purpose of mixed-use development within the burgeoning Bliss City project.
The sprawling Bliss City, which is set to encompass a vast expanse of 31.43 acres, has already been granted 17.43 acres by the government. The decision to begin leasing out this allocated land came as the allotment process for the remaining 14 acres faced potential delays.
Originally conceived as a multi-crore project featuring a medical city, an entertainment and recreational hub, among other components, KMRL invited expressions of interest (EoI) last year. While approximately 20 investors initially expressed their interest in the project, none ultimately submitted financial proposals. This was largely attributed to the investors' preference for residential development on the land, which was not in line with KMRL's vision. Consequently, KMRL opted to revise the project.
Previously, discussions were held regarding the possibility of establishing a new Infopark campus on the proposed land within Bliss City. This idea gained traction as Infopark authorities have been grappling with land shortages for park development. A KMRL source however dismissed the idea, stating the their concept differs from Infopark's strategy. While they aim to generate revenue by leasing our land, Infopark seeks to attract IT companies by offering land at a reduced price. Given the non-contiguous nature of the currently allotted 17.43 acres, the remaining 14 acres appear better suited for the development of IT infrastructure to support Infopark's needs, the source added.
In conclusion, the Kochi Metro Rail Ltd (KMRL) has taken proactive steps to move forward with the Bliss City project in Kakkanad by issuing e-tenders for leasing land in the vicinity. This strategic move aims to expedite the development of this ambitious mixed-use project. While the initial vision of the project encountered challenges in attracting investors aligned with KMRL's vision, the decision to lease out the allocated 17.43 acres of land is a crucial step in ensuring progress. As discussions continue regarding the potential use of the remaining 14 acres, it becomes clear that the project's evolution reflects a commitment to realizing its potential and addressing the needs of the region in a dynamic manner.
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