Karnataka Government mulls renting floors in proposed twin towers in Majestic to private firms
BENGALURU: The high-rise twin towers due to come up in Majestic area to house government offices, could be shared with private companies, with the State government looking to rent out certain floors as a means to earn additional revenue. It has initiated the process to study the feasibility of construction and model to be adopted.
At present, government offices are scattered across Bengaluru, including the Multi-Storeyed Building next to Vikasa Soudha, BMTC terminus in Shanthinagar, Kendriya Sadan in Koramangala, VV Towers and other places. When BS Yediyurappa was chief minister in 2020, it was proposed to accommodate all offices in one place, and the government zeroed in on an 8-acre land parcel next to Anand Rao Circle flyover to construct the twin towers.
Though initially planned for 25 floors each, the plan was later increased to 59 floors as per Floor Area Ratio. But the cabinet has now given approval to opt for Transferable Development Rights (TDR). With this, the number of floors to be constructed will be more. 'We have written to the BBMP, seeking to know how many floors can be built on the available land. Once we get a reply, we will get a clear picture,' a senior PWD official told The New Indian Express.
The State government has called for tenders from a consultant for a feasibility study and transaction advisory services. The transaction advisory will have a team of experts, including realtors. 'The experts will decide how to go about construction of the twin towers, whether to go for Private Public Partnership or whether the government can take a loan and bear the entire expense, or any other model that will benefit the government to reduce financial burden,'' sources said.
The experts will also work out the feasibility of renting out certain floors to private firms, including IT companies, to yield income. 'We wanted to house all government offices here, without causing much financial burden,' said official sources.
Pointing out that land availability is a major concern in Bengaluru, sources said, 'When we have over 8 acres of land in a prime location with bus, train and Metro connectivity, many would be interested. This is, however, in the initial stage,'' sources said. The State government also proposes to connect the twin towers with MS Building and other government offices.
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