Wednesday, December 13, 2017

Multilevel car parking plan for Chennai airport

Chennai: Airports Authority of India (AAI) is planning to develop a multilevel car parking facility at Chennai airport on design, build, operate and manage basis at an estimated cost of around ?250 crore.

A 4.32-acre plot near the Chennai Metro station in front of the airport will accommodate nearly 2,000 cars, said Chennai Airport Director G Chandramouli.

The airport handles 40,000 to 50,000 domestic and international passengers daily.

Jones Lang LaSalle, the US-based investment management company specialising in real estate, has been appointed as project consultant. A meeting between AAI officials and potential bidders is likely in two weeks.

The successful bidder will be required to pay AAI 20 per cent share of Gross Project Revenue annually. The car park will also have commercial establishments, sources said.

The multilevel car park facility was first envisaged in 2010 at an estimated cost of ?132 crore to park around 1,300 cars. But, the project was called off following a total revamp in airport structure.
13/12/17 TE Raja Simhan/Business Line