In a bid to overcome its losses, the Andhra Pradesh Road Transport Corporation (APSRTC) is contemplating to allot over 88,000 sq yards of vacant space in 16 bus stations, depots and office staff quarters in the state to private builders on lease for ‘development’ under the build-operate-transfer (BOT) system.
The officials have prepared proposals and will invite applications from private builders soon.
“We are finding all possible ways to overcome our losses of Rs 4,000 crores by utilizing the vacant properties for income generation,” an RTC official said.
The corporation had appointed a consultant to identify new revenue streams frim its unutilised properties. The consultant has submitted a report to RTC officials a few days ago.
Based on the report, the RTC officials decided to allot the following vacant spaces in 16 bus stations, depots and staff quarters_Narsipatnam bus station, Eluru bus depot and office staff quarters, Tadepalligudem bus station, Guntur old bus station and old bus depot, Narasaraopet staff quarters, Singaraikinda bus station, Dornala bus station, Kavali bus station, Kakatur zonal staff training college, Chittoor bus depot, Kurnool zonal staff training college, Armur bus station, Nirmal bus depot and Hanmakonda staff quarters.
However, this is not the first attempt by the RTC officials to plan such a project.
Earlier, they had called tenders for development of vacant spaces in Hakimpet training college, Kacheguda office staff quarters, Guntur NTR bus station, Medchal bus station, Ranigunj bus depot, Tirupati bus depot and Maddilapalem bus station, but it failed as no private player showed up during the bidding.
However, expressing confidence, an RTC official said, “We are confident that many private players will come forward this time.” He blamed the recession and the burst of the real estate bubble as the reasons for the failure of the project last time.
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