KMRL offers ₹1,000 cr realty space along route

As a part of unrelenting efforts to increase non-ticketing revenue, the Kochi Metro Rail Ltd has planned a Metro City project - with an apartment complex and a shopping mall - spanning 17 acres in Kakkanad and that the state PWD will be handing over the land parcels shortly. The plan is to complete the Metro City project before the completion of the proposed Kakkanad extension so that the agency will be able to garner considerable revenue by the time of the extension of the services in the second phase as it planned to generate ₹1,000 crore from this initiative. In this connection, KMRL has reached in-principle agreement with the PWD, under which the latter will hand over the land, excluding the guesthouse for property development. The Metro City apartment complex aimed at providing high-quality residential units, ranging between 1,000 sq.ft and 1,600 sq.ft, to middle-class families at a reasonable price range. The KMRL will fix the specifications for the builders to ensure quality construction. Along with the apartment complex, a shopping mall with a multiplex, recreation area and related infrastructure are also part of the project.