KMRL to develop commercial land on PPP model

To lessen the burden of loan repayment and operational expenses, Kochi Metro has decided to offer its land parcel to commercial development by partnering with private players. It has initiated measures to revive a hotel project attached to Ernakulam South Metro station, which had been lying stalled for the past five years. It has land parcels in many places like Aluva and Edappally the holdings can be developed into ventures like malls or other commercial space and is likely to seek support from private entrepreneurs on this score. According to the annual report 2019-20 of Kochi Metro Rail Limited (KMRL), the Government of Kerala allotted 17.3 acres of land to KMRL in 2013 for monetizing and generating non-fare box revenue and now KMRL decided to develop this land as an entertainment hub for all age groups.

The Phase II of the Kochi Metro project running from JLN Stadium to Infopark via Kakkanad for a distance of 11.2 km has been included in the Union Budget 2021-22 a cost of ₹1957.05 crore. The project will connect the Central City of Ernakulam to IT hub Infopark and District headquarters Kakkanad and will also interconnect Palarivattom, residential areas like Aalinchuvadu and Chembumukku. Infopark is the largest IT hub of Kerala, and Kakkanad is where the district headquarters and major residential and commercial hub with an industrial area like SEZ are located. According to KMRL, the alignment consisting of an 11.2 km viaduct and 11 elevated metro stations will inter-connect the existing Phase-I corridor at JLN Stadium Metro station and it is likely to offer available land parcels to private players for commercial development.