The Greater Cochin Development Authority (GCDA) is accelerating its plans to launch a significant new commercial project in the city. The authority has expedited all necessary procedures to begin construction on a multi-storeyed shopping complex in the bustling area of Kakkanad.
Project Design and Cost Estimates Finalised
According to officials from the development body, the consultant firm hired for this ambitious project has already submitted the complete structural design details. The detailed cost estimate for the construction is expected to be formally handed over to the GCDA within the next two days. A preliminary assessment by the consultants pegs the total project cost at approximately Rs 8 crore. However, a GCDA source clarified that the final estimate will be confirmed only after a thorough review of all submitted documents.
Swift Approval Process and Construction Timeline
Once the cost estimate is received, the engineering wing of the GCDA will scrutinise the proposal. This internal review is slated to be completed within one week. Following this, the proposal will be forwarded to the government to seek the required administrative and technical sanctions. Sources indicate that the tender process for the actual construction work will begin immediately after the authority secures these crucial government approvals.
The proposed complex will be built on a 13-cent plot of land owned by GCDA, located near the CPM office in Kakkanad town. The building is designed to have a total built-up area of 12,350 square feet. It is planned as a five-storey structure, which will include basement parking facilities.
A Boost for Organised Commercial Space in Kochi
This new facility is strategically designed to cater to the growing demand for organised business and retail spaces in Kakkanad and its surrounding regions. The complex will accommodate a diverse mix of commercial establishments. These are expected to include retail shops, corporate offices, institutions, and various other business units. Adding to its utility, a meeting hall is proposed for the top floor of the building.
Officials state that this project is a key part of GCDA's broader strategy to strengthen its portfolio of commercial assets. The primary goal is to generate a sustainable and increased revenue stream for the authority, which can be reinvested into further development initiatives for the Greater Cochin region.
