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THIRUVANANTHAPURAM: Smart city Thiruvananthapuram Ltd (SCTL) and Thiruvananthapuram development authority (Trida) will share the revenue generated from three smart city projects being implemented at Palayam and Chalai.

The state government has approved the revenue sharing model between SCTL and Trida in developing the three projects — rehabilitation block at Palayam (on M block and waste dump site) as part of Palayam market redevelopment, multi-level car parking complex (behind Saphalyam complex) and warehousing complex at Attakulangara, Chalai. These projects are being implemented using smart city mission funds.

As per the memorandum of understanding, the share of SCTL will be the cost incurred for project development and annual maintenance contract for five years.

Trida’s share will be calculated as twice the cost of land which is being utilized by SCTL for project development. This has been determined as per fair value of land.

The revenue generated through lease, rent, parking charges will be shared by both parties after meeting all the expenses for operation and maintenance.

In the construction of rehabilitation block at Palayam, Trida’s share would be Rs 22.63 crore while SCTL will bear Rs 40.13 crore. The profit share of Trida and SCTL will be 55.39% and 43.61% respectively.

The fair value for automated multilevel car parking facility has been estimated at Rs 12.14 lakh for 86.3 cents. SCTL and Trida will take profit shares of 40.97% and 59.03% respectively.

As for the warehousing complex at Chalai, the fair value is Rs 8.09 lakh for 209.7 cents. SCTL will carry a profit share of 35.54% and Trida will get a share of 64.54% for this project.

The renovation of Palayam market involves design, supply and installation of prefabricated structure for construction of rehabilitation block of existing vendors, site clearance and construction of new market building at Palayam, design, supply, installation and maintenance of electromechanical car parking system within the basement of the proposed Palayam market building.

The first two components will be executed at Rs 12.7 crore and Rs 61.05 crore respectively and the third component will cost Rs 8.17 crore. Around 9,624 cubic metres of waste weighing approximately around 4,842 tonnes were removed at Palayam to set up prefab structures for rehabilitation block.

The proposed warehouse facility at Chalai will have six huge chambers for storage. One chamber will be used exclusively for cold storage and remaining chambers will be used for general warehouse purpose. The market is badly in need of a warehousing facility and this will be a key step in ensuring scientific and proper storage.

Proposed to be built over 2,500 sqm, the warehouse will also address grave concerns of using chemicals to extend the storage life of perishables.

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