Bhopal Development Authority - bda, bda
Bhopal Development Authority - bda, bda
Bhopal Development Authority - bda, bda
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<strong>Bhopal</strong> <strong>Development</strong> <strong>Authority</strong><br />
<strong>Development</strong> of Integrated Mixed Use Commercial Complex at Galla Mandi<br />
Investors’ Meet<br />
10 th August 2011
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•<br />
About BDA<br />
<strong>Bhopal</strong> <strong>Development</strong> <strong>Authority</strong> (BDA)<br />
Apex body for planning and coordination of development activities<br />
focused on housing, transport, water supply and environment<br />
Catalyses urban development through<br />
– Conceiving,<br />
– Promoting and monitoring key projects for developing new<br />
growth centres<br />
– Leading to improvements in sectors like transport, housing,<br />
water supply and environment in the region<br />
Has successfully completed several projects such as:<br />
– Rishi Nagar Scheme Char Imli<br />
– Houses and shops in Shahpura<br />
– Construction of residential cum commercial complex in<br />
Panchasheel Nagar<br />
– Kushabhau Thakre Inter State Bus Terminus.<br />
The Galla Mandi project is BDA’s latest such initiative.<br />
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•<br />
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Corporate<br />
Advisory,<br />
Markets<br />
End to end financial as well as business advisory services to government<br />
as well as private sector clients<br />
Experts with extensive experience in the Urban Infrastructure sector<br />
who :<br />
Meghraj Capital Advisors Private Limited (MCA)<br />
Prominent Investment banking and consulting firm with excellent track<br />
record and corporate relationships.<br />
– Have advised on numerous PPP projects across urban development<br />
sectors<br />
Finance, Advisory and execution services in Infrastructure<br />
Mergers & Acquisitions, Funds Syndication and Capital<br />
– Have worked extensively in sectors such as commercial,<br />
recreational, sports, IT , education and other infrastructure.<br />
Transaction advisors to BDA for this project
<strong>Bhopal</strong>-Recent trends<br />
• Significant government presence given that it is the state capital.<br />
• Regional Head offices of many private and public sector banks and financial<br />
institutions are based in the city<br />
• Entry of private/service sector companies across sectors such as banking, financial<br />
services, telecom, etc.<br />
• Importance as an Education hub today with more than 100 colleges and higher<br />
learning institutes located in the city (It has an NIT & an NLU as well)<br />
• The city striving to balance tradition and innovation in its developmental initiatives.<br />
• Rapid growth in the real estate sector in the last five-seven years.<br />
• Mega projects such as the Delhi Mumbai Industrial Corridor (DMIC) project are<br />
expected to catalyze developments in Madhya Pradesh with related effect on <strong>Bhopal</strong>.<br />
• Impetus being given to infrastructure development at the city level through schemes<br />
such as the JNNURM.<br />
4
About the Project Site<br />
5
Area • 10 acres (approx)<br />
About the site<br />
Location • In the heart of the city<br />
• Near Jahangirabad and <strong>Bhopal</strong> railway station<br />
• Equidistant from major areas<br />
Unique Features • Large land parcel<br />
• Rectangle i.e regular in shape<br />
• Virtually equidistant from MP Nagar, Bittan Market and the Old City<br />
(4 kms from MP Nagar and 6 kms from Bittan Market)<br />
Connectivity • Existing: Connectivity through 150’ wide Pul Bogda Road (NH-12)<br />
• Future Connectivity: Chiklod Road is to the rear of the site and<br />
hence possibility of connectivity can be explored<br />
6
Position of the Site in the overall context of the city<br />
<strong>Bhopal</strong> Airport<br />
<strong>Bhopal</strong> Railway<br />
Station<br />
Lower Lake Jahangirabad Area<br />
The figure above shows the location of the site (shown by balloon A) in the overall context of the city<br />
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Connectivity through Pul Bogda Road<br />
8
Picture of the project site-1<br />
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Picture of the project site-2<br />
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Picture of the project site-3<br />
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Picture of the project site-4<br />
12
Observations based on the market survey<br />
13
• Background<br />
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Observations based on retail infrastructure<br />
The unorganized sector dominates as yet (small<br />
retail stores across various markets)<br />
Over the last decade, departmental stores and<br />
commercial complexes have done well.<br />
Malls are a recent development with DB City<br />
operational and others such as Aashima Lakeside<br />
to be opened shortly. These are high end malls.<br />
High end malls while a major attraction have not<br />
managed<br />
required.<br />
General<br />
expensive.<br />
to convert footfalls to the extent<br />
customer perception is that malls are<br />
The customer in <strong>Bhopal</strong> is also value conscious.<br />
There thus appears significant opportunity for<br />
value retail and discount stores.<br />
14
Observations based on retail infrastructure (Contd)<br />
• Structure of Value Retail<br />
– Unbeatable Value Proposition<br />
– Discounts/sales throughout the year<br />
– Factory outlets of brands<br />
– Unmatched variety covering international , national and local outlets.<br />
– Hypermarket and value cinema generally increases footfalls<br />
– Lower lease rentals –lower break even levels given higher conversion<br />
• Key Drivers for Value Retail<br />
– Huge unorganized market/small retail<br />
– <strong>Bhopal</strong> a major urban centre for the surrounding region<br />
– Consumers looking for a ‘Value for Money’ proposition<br />
– People settling down in <strong>Bhopal</strong> for education and job purposes<br />
– Outsiders coming in with consequent effect on the spending pattern<br />
Retail Infrastructure - An appropriate concept for the value conscious <strong>Bhopal</strong><br />
consumer
Observations based on retail infrastructure (Contd)<br />
• Suitability of the project site<br />
– Well located site equidistant from major city areas<br />
– Availability of adequate land<br />
– A value mall could help attract consumers there and act as a catalyst for other<br />
developments in the mixed use complex.<br />
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Forum Value Mall, Bangalore<br />
Developer Prestige Group<br />
Location Whitefield<br />
Built-up area 0.473 Million sq ft<br />
GLA (Gross leasable Area) 0.3 Million sq ft<br />
Anchor Tenants • 5 Screen 800 Seat Fame Multiplex<br />
• Transit Food Court (Toscano, Firangi Paani, Angeethi, KFC,<br />
McDonald and MTR)<br />
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•<br />
•<br />
•<br />
•<br />
•<br />
•<br />
Forum Value Mall, Bangalore<br />
Large number of brands at discount prices<br />
throughout the year.<br />
Major Attractions: Mega Mart, Supermarket,<br />
Restaurants and 5 screen multiplex<br />
Mix of Local, national and international brands<br />
(E.g. Neeru’s, Sanskruti silks, Loot mart,<br />
Namdhari’s fresh, etc)<br />
Huge parking space/economical parking charges<br />
The Business model and infrastructure developed<br />
enable them to keep the fixed cost low<br />
These lead to lower lease rentals and hence<br />
discounted prices.<br />
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Developer Ansal Housing<br />
Ansal Plaza, Ghaziabad<br />
Location Vaishali, Ghaziabad<br />
Built-up area 2 Million sq ft<br />
Major Attraction ADLABS 3 screen multiplex, Hyper market<br />
19
Ansal Plaza, Ghaziabad<br />
• Situated on the Delhi-Ghaziabad border<br />
• Offers discounts on all international and national brands available year round<br />
• Attracts not only youngsters and working class group but homemakers since it<br />
offers groceries and other essentials too.<br />
• Footfalls of around 8000-10000 a day<br />
• Many residential areas in the vicinity offer the perfect catchment area.<br />
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Observations based on residential infrastructure<br />
• Background<br />
– Traditionally independent houses<br />
– Concept of apartments gaining ground<br />
– <strong>Development</strong> of residential infrastructure constrained by<br />
geographical and manmade barriers<br />
– Congested old residential colonies in the main city<br />
– Housing in premium areas is very expensive<br />
– Demand therefore for affordable housing<br />
– Demand for rented houses from people travelling for educational<br />
and business purposes<br />
21
Observations based on residential infrastructure (Contd)<br />
• Key Drivers<br />
– Good quality of life<br />
– Aspirational demand<br />
– Large government presence<br />
– Vibrant education sector<br />
• Suitability<br />
– Newer developments are happening away from the city<br />
– Prime location of the site and connectivity will be major attractions<br />
– Considerable scope therefore for an integrated development including<br />
residential at the project site<br />
Considerable demand for housing/affordable housing<br />
22
Observations based on healthcare infrastructure<br />
• Background<br />
– Large government hospitals in the city (<strong>Bhopal</strong> Memorial Hospital,<br />
People’s Hospital, Jawahar Lal Nehru Cancer Hospital, etc.)<br />
– Four large multi-specialty hospitals i.e. Chirayu, Hajela, Akshay<br />
and National hospital<br />
– AIIMS (Delhi) is setting up a regional facility<br />
– Mumbai/Delhi preferred healthcare destinations for the well-<br />
heeled.<br />
– A majority of hospitals have been set up by one/more doctors and<br />
offer one/several specialties.<br />
Latent demand for quality healthcare & hence scope for corporates hospitals<br />
23
Observations based on hotel infrastructure<br />
• Variety of hotels to cater to all budgets.<br />
• Hotels predominantly depend upon corporate clientele<br />
• Significant business travellers given that the city is the<br />
state capital and home to numerous government and<br />
private sector entities.<br />
• Several hotels have expansion plans in view of the<br />
potential.<br />
• High occupancy levels in case of mid-case hotels.<br />
• Tourist attractions in and around <strong>Bhopal</strong>.<br />
• Given the demand and FSI available, hotels could be a<br />
good option.<br />
Proximity to the railway station from Galla Mandi, a key value proposition for hotel<br />
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Lemon Tree Hotel<br />
• Hotels opened at Ahmedabad, Aurangabad, Indore,<br />
Ghaziabad other then metro cities<br />
• In Indore:<br />
• Located at 8 kms from airport<br />
• 100 rooms each with a flat-screen color TV with multi-channel<br />
cable, full-sized work desk, high-speed WiFi net access<br />
• The fare is Rs. 2850 – Rs. 4000<br />
• Value for money hotel<br />
• Some features:<br />
– Central air conditioning<br />
– Business centre<br />
– Banquet meeting centre<br />
– Multi-cuisine coffee shop<br />
– Recreation bar<br />
– Fitness centre<br />
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• Hotels at Ahmedabad, Bhubaneshwar,<br />
Ginger Hotel, Bhubaneshwar<br />
Indore, Nashik, Surat, Vadodara other than<br />
major cities<br />
• In Bhubaneshwar:<br />
• Concept of best-budget hotel at<br />
bhubaneshwar<br />
• Fare ranges in Rs. 2099 – Rs. 3999<br />
• 101 self sufficient rooms<br />
• Services in the room such as Mini-fridge, LCD<br />
TV, Self-controlled A/c, Tea and Coffee<br />
maker & Telephone<br />
• Corporate services offered such as Wi-fi,<br />
Meeting Room, Gymnasium<br />
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•<br />
•<br />
Observations based on commercial infrastructure<br />
Background<br />
– Commercial infrastructure typically comprises small offices/establishments in<br />
commercial complexes<br />
– These are often not very well maintained.<br />
– Demand is driven by a host of end users such as traders, doctors, developers,<br />
property brokers, coaching classes, English speaking classes, computer classes, CA<br />
firms, etc.<br />
– Individual shops/offices typically range between 500-1500 square feet.<br />
Key Drivers<br />
– Quality commercial supported by adequate facilities management has not yet<br />
picked up and presents a tremendous opportunity.<br />
– Demand for quality commercial from corporates setting up base in the city.<br />
Demand for well maintained commercial infrastructure<br />
27
• Background<br />
Guest House/Serviced Apartment<br />
– Furnished apartment available for short-term or long-term stays<br />
– Provides amenities for daily use<br />
– Less expensive than equivalent hotel rooms<br />
– Increase in business travel for short and medium term will create interest<br />
(economical compared to staying in a hotel)<br />
– Offer more space and privacy, convenience and cost savings<br />
• Trends<br />
– Service apartment is already available in cities such as Ahmedabad, Pune,<br />
Gurgaon, Chandigarh, Jaipur other than metro cities and the segment is now<br />
gaining momentum in tier 2 and 3 cities as well<br />
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• Background<br />
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–<br />
Large, cavernous public<br />
space<br />
Hosts public and private business and social<br />
events for the surrounding municipal and<br />
metropolitan areas<br />
The Floor area is enough to accommodate<br />
several thousand attendees<br />
Convention centre<br />
buildings with open<br />
Convention centers rent space for meetings such as: corporate conferences,<br />
industry trade shows, entertainment spectacles and concerts, large scale<br />
social events such as big ticket weddings/reunions, etc.<br />
Currently <strong>Bhopal</strong> does not have a convention centre.<br />
MPSTDC has recently announced an international standard convention<br />
centre to be developed in <strong>Bhopal</strong> at a cost of Rs. 40 Crore on 4 acres land<br />
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• Key Drivers<br />
Convention centre (Contd)<br />
– <strong>Bhopal</strong> is the state capital and does not yet have a large scale convention centre<br />
– Numerous events being conducted here<br />
– Demand and utilization levels for banquet halls/marriage halls are decent which<br />
• Suitability<br />
could be a complimentary use of the facility<br />
– Site is centrally located<br />
– The Convention centre can itself be expected to act as catalyst for other related<br />
developments that could come up at the project site<br />
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Feasible uses of the site based on the market survey<br />
��In view of the size of the plot and FSI available, a mixed use development<br />
may be optimal<br />
��Market survey indicates feasible components could include:<br />
� Value Retail<br />
� Residential<br />
� Commercial<br />
� Hotels/Hospitality<br />
� Healthcare/Hospital<br />
� Guesthouses/service apartments<br />
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S. No:<br />
(I)<br />
1<br />
2<br />
3<br />
4<br />
5<br />
6<br />
7<br />
Applicable regulations to the design parameters<br />
Name of Planning/ Building <strong>Authority</strong>’s jurisdiction in<br />
which site is present<br />
Is there need for land use conversion?<br />
Width of approach/ internal road:<br />
Road widening proposals from Road authorities for<br />
the roads connecting the site (80’, 90’ 30’ & 40’<br />
wide road)<br />
Planning Regulations Remarks<br />
Existing land use of site as per <strong>Development</strong> Plan Commercial<br />
Type and nature of neighboring development<br />
Is there any building line setback regulation from<br />
centre of the existing adjoining main roads<br />
32<br />
BDA<br />
No<br />
150 feet wide road<br />
Yes<br />
Residential - LIG<br />
No
Applicable regulations to the design parameters<br />
S. No: Planning Regulations Remarks<br />
8<br />
9<br />
10<br />
11<br />
12<br />
What are the Planning/Environmental/Building Authorities MP electricity Board<br />
relevant to site based on location and proposed residential PCB<br />
development BDA<br />
(Electricity Board, Water Supply Board, Pollution AAI<br />
Control Board etc)<br />
Any HT lines running through the site<br />
Any water body within the site<br />
Proximity to airport<br />
Nature of services existing to and from the site for<br />
� Water<br />
� Sewerage<br />
� Electricity<br />
33<br />
No<br />
No<br />
7 Kms<br />
Available
S. No.<br />
(II)<br />
1<br />
2<br />
3<br />
4<br />
5<br />
6<br />
7<br />
Applicable regulations to the design parameters<br />
Building Regulations/ Bye-laws Remarks<br />
Types of development planned in the proposed<br />
development<br />
� Commercial Office blocks<br />
� Residential blocks<br />
� Others (Specify)<br />
Mixed use development<br />
Permissible FSI for each building type 1.75<br />
Permissible building height based on adjoining road<br />
widths for high rise apartments:<br />
Plot coverage applicable<br />
Percentage of land parcel to be allocated for Open<br />
Spaces/ Civic Amenities?<br />
Limit as per AAI<br />
Parking regulations as per local bye-laws/ Market 40% of TBUA (Retail)<br />
requirement<br />
25% for others.<br />
MSL of site & airport<br />
(To be obtained from Survey of India)<br />
34<br />
50%<br />
10%<br />
To be obtained
Concept Suggested<br />
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• Features<br />
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–<br />
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–<br />
Value retail to be at the core of the<br />
development<br />
Commercial<br />
retail<br />
4 star and service apartment<br />
(Hospitality infrastructure) enables<br />
optimal use of FSI<br />
Hospital will be an additional<br />
integrated part of this development.<br />
Designed to harness the complete<br />
potential of the site<br />
<strong>Bhopal</strong> Town Centre Concept<br />
will compliment value<br />
36<br />
Serviced<br />
Apartment<br />
Commercial<br />
Value<br />
Retail<br />
Hospital<br />
4 Star Hotel
<strong>Bhopal</strong> Town Centre Concept (Contd)<br />
37
<strong>Bhopal</strong> Town Centre Concept (Contd)<br />
38<br />
• Access and Connectivity<br />
– Access is provided through a main<br />
spine road from the highway<br />
– The access can be a well-designed<br />
14mts wide road and landscaping<br />
– The value retail and the star<br />
hotel are placed at the entrance<br />
to provide frontage<br />
– The retail close to the main spine<br />
facilitates an easy flow of traffic<br />
to the center
Area Available<br />
(Permissible built up area)<br />
Approx. project cost<br />
<strong>Bhopal</strong> Town Centre Concept (Contd)<br />
Total time for construction<br />
7.6 lakh sq. ft.<br />
Rs. 190 Crores<br />
Upto 3 years for various components<br />
Components<br />
Retail<br />
Hotel<br />
Commercial<br />
Hospital<br />
Guesthouses/<br />
Serviced<br />
apartments<br />
39<br />
Built up area<br />
(Lakh sq ft)<br />
4.0<br />
0.8<br />
1.0<br />
1.2<br />
% coverage<br />
34.8%<br />
14.0%<br />
12.3%<br />
7.6%<br />
0.6 9.9%
Proposed PPP structure<br />
PPP Structure Design-Build-Finance-Operate-Transfer<br />
(DBFOT)<br />
Basis of land availability Leasehold<br />
Tenure of the concession 20 years<br />
Option to extend concession period At the end of 20 years for another 20<br />
years at mutually agreed terms.<br />
Bidding parameter Upfront development premium<br />
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BDA requests your thoughts and suggestions and looks<br />
forward to your enthusiastic participation<br />
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THANK YOU<br />
Contact:<br />
Mr V.P.Malviya<br />
cap@<strong>bda</strong>.org.in, info@<strong>bda</strong>.org.in<br />
(M) +91 94250 19630 (O) +91 755 2701837<br />
Mr. Prakash Iyer<br />
prakash@meghrajindia.com<br />
(M) +91 99677 14385 (O) +91 22 6744 5129<br />
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