Future Parking Private Limited
Corporation of Chennai (CoC) has promoted for the development of Fully Automated Multi Level Car Parking Project at Wallace Garden, Nungambakkam, Chennai on Design, Build, Operate and Transfer Basis (DBOT) for a period of 20 years including 2 years of construction period. The project’s total built-up area is 76044 sq.ft that would provide space for atleast 240 Equivalent Car Spaces (ECS).
CoC has also provided the right for development of commercial complex along with the MLCP facility for the entire DBOT period. Chennai Corporation has identified around seven places for the development of MLCP in Chennai and this is their maiden project.
The work was awarded in February 2009 to the consortium of MARG Limited and Apollo Hospitals Enterprise Limited (AHEL) through tendering process. The Consortium has formed a Special Purpose Vehicle Future Parking Private Limited (FPPL), for implementing this project at an estimated cost of Rs. 35 crores.
This breakthrough parking system in Chennai will benefit Apollo hospital visitors & users, general public and commercial space users, office users and people in the nearby vicinity like commercial establishments, government offices, foreign consulates, educational institutions, shopping malls, sporting facilities, tourist spots, star hotels, restaurants and cultural centers.
Construction activities have commenced in the project site and the project is expected to be completed by Sept. 2013