Parking facility at Freedom Park lying vacant, contractor proposes opening hotel

BENGALURU: The first project of Brand Bengaluru, the hi-tech multi-level car parking lot at Freedom Park in Bengaluru, built at a cost of Rs 80 crore based on the Dubai model, has remained unused.

 It was designed to accommodate 750 cars and 750 bikes. However, it’s facing huge losses, with only a fraction of expected vehicles using it.

On the other hand, the contractor, who paid Rs 8 crore to secure the tender, has lost around Rs 70 lakh without revenue from the parking facility. He has written to the Bruhat Bengaluru Mahanagara Palike (BBMP) requesting permission to convert the parking lot into a commercial space or hotel to recover the losses.

Initially expected to generate Rs 1.5 crore annually, the parking lot is now struggling to meet its estimated revenue targets. The contractor’s plea to the BBMP awaits approval.

This project aimed to alleviate parking woes in the heart of the city, but has ended up incurring significant losses within months of its launch.