Latest news with #TKRamakrishnanMemorialMall
Time of India
23-07-2025
- Business
- Time of India
Tripunithura municipality approves draft proposal to lease space at idle malls
Kochi: Tripunithura municipal council approved the draft proposal to lease space for shops at the local body's two malls that have been lying idle. The municipality also sought suggestions from the public regarding the operation of the malls. The malls are T K Ramakrishnan Memorial Mall, located at Kannankulangara, built at a cost of Rs 10 crore and A G Raghava Menon Memorial Mall on Polakkulam Road was constructed for Rs 8.5 crore. The malls, constructed more than five years ago using local body funds, remain largely unused since their inauguration in 2020. According to the municipal council's decision, the local body decided to move away from the centralised mall model after repeated efforts to find a single operator failed. The project will be decentralised to rent out individual spaces within the malls. "We have also invited opinions from the public over the operation of the malls. The project will be implemented after assessing suggestions from the public," said municipal chairperson Rema Santhosh. The decision comes as there was lack of interest from private entities to operate the malls in the centralised format. A recent audit report suggested this move, noting that the prolonged non-operation of malls resulted in significant revenue losses to the municipality.
Time of India
19-05-2025
- Business
- Time of India
Tripunithura municipality plans to repurpose unused malls into shopping complexes
Kochi: decided to submit a proposal to state govt to convert two — and — into functional . The decision comes in light of the lack of interest from private entities to operate the malls in their current centralized format. Tired of too many ads? go ad free now The municipality hopes this change will activate the currently idle infrastructure and generate sustainable income while promoting local commerce. The malls, constructed more than five years ago using local body funds, remains largely unused since their inauguration in 2020. T K Ramakrishnan Memorial Mall, located at Kannankulangara, was built at a cost of Rs 10 crore, while A G Raghava Menon Memorial Mall at Polakkulam was constructed for Rs 8.5 crore. Both projects were launched during the previous municipal council's tenure. Municipality chairperson Rema Santhosh told TOI that the council decided to move away from the centralized mall model after repeated efforts to find a single operator failed. "We will now decentralise the project and rent out individual spaces within the malls. We have received multiple expressions of interest for it," she said. The municipality's engineering department began measuring the internal space of the malls to determine how many shops can be accommodated. A new bylaw will be drafted and submitted to the municipal council for approval before the proposal is forwarded to state govt. A recent audit report also suggested this move, noting that the prolonged non-operation of malls resulted in significant revenue losses for the municipality. The report recommended that converting the structures into shopping complexes would be a more practical and financially viable solution.
