Ad

Ad

Basaveshwara Bus Terminal to be Leased for Commercial Ventures


By Ayushi GuptaUpdated On: 25-Jan-2024 02:03 PM
noOfViews445 Views

Follow Us:follow-image
Shareshare-icon

ByAyushi GuptaAyushi Gupta |Updated On: 25-Jan-2024 02:03 PM
Share via:

Follow Us:follow-image
noOfViews445 Views

KSRTC's attempts to attract commuters to the bus stand have yet to be successful, leading to financial losses. As a result, the corporation is considering leasing the building as office space and the adjacent vacant area for commercial purposes.

CMV360 (16).png

The Basaveshwara bus terminus in Peenya, a property of KSRTC- the Karnataka State Road Transport Corporation, has been underperforming and causing financial strain on the corporation. In a strategic move to generate revenue, KSRTC plans to lease this dormant property to private entities for transformation into a Kalyan Mantap, mall, hospital, or other commercial establishments.

The expansive property, spanning 87,000 square feet across four floors, offers a multitude of development opportunities. KSRTC expects a monthly rent of INR 27.90 lakh from potential tenants. Interestingly, the bus stand premises had been temporarily repurposed as a Covid hospital during the pandemic.

Originally built to alleviate congestion at Majestic, the Basaveshwara bus stand in Peenya failed to meet its objective, thereby causing significant financial pressure on KSRTC. Despite incurring monthly maintenance costs between INR 7 lakh and INR 8 lakh, the bus stand remains largely unused. The corporation bears expenses for electricity, water, security personnel, and D group employees, while only a small number of long-distance buses use the space as a resting area.

KSRTC's attempts to attract commuters to the bus stand have yet to be successful, leading to financial losses. As a result, the corporation is considering leasing the building as office space and the adjacent vacant area for commercial purposes.

Tumkur Road, which connects 20 districts in Karnataka, is vital for KSRTC. Initial plans in 2014 to divert Nelamangala-bound traffic away from Peenya were discontinued due to connectivity issues. Even after resuming services in 2018, passenger traffic did not increase, and the bus stand continues to operate at a loss, serving approximately 600 buses daily. To mitigate financial challenges, KSRTC is contemplating leasing parts of the bus stand, which includes 40 shops, and developing the adjoining vacant land for various purposes. However, previous attempts have yet to be successful.

News


Jupiter Electric Mobility Aims for 1 Lakh EVs in Five Years with focus on LCV market

Jupiter Electric Mobility Aims for 1 Lakh EVs in Five Years with focus on LCV market

The company aims to introduce 2-tonne and 3-tonne electric trucks by the end of the year, further strengthening its presence in urban logistics and last-mile delivery....

13-Mar-25 11:17 AM

Read Full News
NueGo Unveils Electric Buses for Comfortable and Eco-Friendly Travel

NueGo Unveils Electric Buses for Comfortable and Eco-Friendly Travel

The buses come with advanced safety features like ABS brakes, electronic stability control (ESC), full air suspension with electronically controlled air suspension (ECAS)...

13-Mar-25 08:20 AM

Read Full News
Delhi EV Policy 2.0: Government Plans 95% Electric Vehicle Registrations by 2027

Delhi EV Policy 2.0: Government Plans 95% Electric Vehicle Registrations by 2027

Fast-charging corridors will be set up along major roads like the Ring Road and Outer Ring Road to make EV charging easily available across the city....

12-Mar-25 12:07 PM

Read Full News
SML ISUZU Secures New Order for 114 Troop Carriers from Indian Air Force

SML ISUZU Secures New Order for 114 Troop Carriers from Indian Air Force

According to the contract, SML ISUZU will deliver troop carriers with a 20-seat capacity between March 11 and July 9, 2025....

12-Mar-25 09:33 AM

Read Full News
Montra Electric Opens New e-SCV Manufacturing Plant in Ponneri, Chennai

Montra Electric Opens New e-SCV Manufacturing Plant in Ponneri, Chennai

The new manufacturing plant in Chennai will mainly manufacture EVIATOR. The EVIATOR offers an industry-certified range of 245 km....

12-Mar-25 08:00 AM

Read Full News
Bajaj Auto Delivers 51 GoGo Electric Three-Wheelers in Lucknow

Bajaj Auto Delivers 51 GoGo Electric Three-Wheelers in Lucknow

The Bajaj GoGo electric three-wheelers offers a certified range of up to 251 km on a single charge...

12-Mar-25 05:56 AM

Read Full News

Ad

Ad

web-imagesweb-images

Registered Office Address

Delente Technologies Pvt. Ltd.

M3M Cosmopolitan, 12th Cosmopolitan,

Golf Course Ext Rd, Sector 66, Gurugram, Haryana

pincode - 122002

Join CMV360

Receive pricing updates, buying tips & more!

Follow Us

facebook
youtube
instagram

COMMERCIAL VEHICLE BUYING BECOMES EASY AT CMV360

CMV360 - is a leading commercial vehicle marketplace. We helps consumers to Buy, Finance, Insure and Service their commercial vehicles.

We bring great transparency on pricing, information and comparison of tractors, trucks, buses and three wheelers.