The city corporation in the month of August has passed a resolution that KalaMandir, Shukurwar peth be develpped as shopping mall with multiplex, food court and family entertainment centre at Kalamandir Premises, Tilakwadi.
Proposed project details
Extent of land – 7800 sqm
Considering 60% – 4680 sqm i.e. 4600 sqm
Extent of proposed construction:
Basement for parking – 4600 sqm
Ground floor for shops – 4600 sqm
1 st floor for shops – 4600 sqm
2 nd floor for family entertainment – 4600 sqm
3 rd floor for food court – 4600 sqm
4 th floor for multiplex – 4600 sqm
Total built up area – 27600 sqm
Total cost of construction = Rs.4462.00 lakhs
Income from Rent
1) Parking Fee in – 4600 sqm
Basement parking 250 vehicles x Rs.25/6 hrs x 2 shifts x 30 days
= Rs.3.75 lakhs per month
2) Rent from Shops = 4600 sqm x Rs.400/sqm/month in Ground Floor = Rs.18.40 lakhs/month
3) Rent from Shops = 4600 sqm x Rs.400/sqm/month in First Floor = Rs.18.40 lakhs/month
4) Income from family = 4600 sqm x Rs.350/sqm/month Entertainment in = Rs.16.10 lakhs/month
5) Rent from Food Court = 4600 sqm x Rs.350/sqm/month
In Third Floor = Rs.16.10 lakhs/month
Income from multiplex = 4600 sqm x Rs.350/sqm/month
in Fourth Floor = Rs.16.10 lakhs/month
Total revenue per month from the project = Rs.88.85 lakhs.
Total Project cost = Rs.5495.00 lakhs
Hence the project is viable and proposed on PPP model with ULB contribution from private investor or through Government soft loan. The Commissioner has stated that KUIDFC has appointed financial consultant to study feasibility of the project.
After discussion it was unanimously resolved to approve to take up the work of construction of shopping mall with multiplex, food court and family entertainment centre at Kalamandir premises, Tilakwadi Belgaum either on BOOT basis or through Government soft loan as suggested by financial consultants appointed by KUIDFC.