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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


•<br />

•<br />

•<br />

•<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 />

2


•<br />

•<br />

•<br />

•<br />

•<br />

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 />

7


Connectivity through Pul Bogda Road<br />

8


Picture of the project site-1<br />

9


Picture of the project site-2<br />

10


Picture of the project site-3<br />

11


Picture of the project site-4<br />

12


Observations based on the market survey<br />

13


• Background<br />

–<br />

–<br />

–<br />

–<br />

–<br />

–<br />

–<br />

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 />

16


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 />

17


•<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 />

18


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 />

20


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 />

24


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 />

25


• 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 />

26


•<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 />

28


• Background<br />

–<br />

–<br />

–<br />

–<br />

–<br />

–<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 />

29


• 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 />

30


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 />

31


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 />

35


• Features<br />

–<br />

–<br />

–<br />

–<br />

–<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 />

40


BDA requests your thoughts and suggestions and looks<br />

forward to your enthusiastic participation<br />

41


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 />

42

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