T HE next time you want to go to a multiplex or a mall in Punjab, you may have to head for the local bus terminal. Considering the fact that bus terminals are usually located in prime areas, the state government has hit upon a plan to make these an attractive proposition for real estate developers.
As per the Punjab Industrial Development Board's (PIDB) plan, bus terminals will be converted into multistoried structures, with the bus stand operating from the ground floor. The floors above will house shopping malls, offices, restaurants and multiplexes. In the first phase, bids have been invited for development of bus terminals at Mohali, Patiala and Bathinda on the Public Private Partnership (PPP) model.
Some ofthe real estate firms who have applied include DLF Ltd, Gammon Infrastructure, Nagaduna Constructions, GMR, Unitech, TDI, India Bulls Real Estate, Parsvanath and Omaxe. Bids have also come from outside firms like PD Aggarwal Infrastructure Limited (Indore), Akruti City and Oberoi (Mumbai), IDEB (Bangalore) and Bengal Silver Spring (Kolkata). The developer will be finalised by June and the construction work is expected tobe completed in two years.
Talking to The Sunday Express, Dr SS Sandhu, PIDB managing director, said: "There need not be any apprehension about the co-existence of a bus stand and a shopping area. If you look at the project plan, these are big complexes.
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