The newly constructed commercial complex at the Davangere bus terminal, built at a cost of ₹130 crore, has been facing challenges in attracting tenants. Despite multiple tendering attempts, the space remains largely vacant, raising questions about the project’s viability and the factors contributing to its underutilization.
A Smart City Initiative
As part of the Smart City mission, the Davangere bus terminal was designed to be a modern transportation hub, integrating commercial spaces to serve both travelers and the local community. The complex spans 1.3 lakh square feet and includes amenities such as a bus terminal, shopping mall, food courts, and office spaces. The vision was to create a multi-functional space that would cater to the growing needs of the city and its surrounding regions.
Tendering Attempts and Challenges
Since its completion, the commercial space has been put up for lease multiple times. However, each attempt has met with limited success. The first three rounds of tenders did not yield any significant interest. In response, the authorities reduced the minimum monthly revenue expectations to make the spaces more attractive. Despite these adjustments, the fourth and fifth rounds of tenders also failed to secure tenants.
The lack of interest has been attributed to several factors, including high rental expectations, the absence of anchor tenants like multiplexes or large retail chains, and the relatively low footfall in the area. Additionally, the ongoing construction and development around the terminal may have contributed to the hesitation among potential tenants.
Broader Implications
The situation at the Davangere bus terminal mall reflects a broader trend observed in other parts of Karnataka. For instance, 51 commercial stalls at NWKRTC-owned bus stands across nine divisions in the Kittur Karnataka region have remained vacant for approximately three years. Factors such as high rents, poor business prospects, and sanitation issues have been cited as reasons for the lack of interest. In response, NWKRTC has now decided to offer these stalls without a tender, inviting interested parties to submit written rent bids that exceed the corporation’s fixed minimum rent.
Looking Ahead
The authorities are considering various strategies to address the vacancy issue at the Davangere bus terminal mall. These include revising rental terms, offering incentives to potential tenants, and enhancing the overall infrastructure and amenities to make the space more appealing. The goal is to transform the complex into a vibrant commercial hub that meets the needs of both residents and travelers.
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