Yeshwanthpur’s 10-storey parking complex remains idle three years after completion

Bengaluru’s ₹80 crore Yeshwanthpur APMC parking complex, built in 2023, remains idle as high automation costs and capped fees deter bidders despite prime location

Bengaluru’s mounting parking woes continue despite the presence of a massive facility at Yeshwanthpur that has yet to open its doors. The 10‑storey parking complex, built at the Agricultural Produce Market Committee (APMC) yard, was completed in October 2023 at a cost of nearly ₹80 crore. However, three years later, it remains unused due to operational and financial hurdles.

Located in one of the city’s busiest transit and commercial hubs, the complex was envisioned as a partial solution to the city’s growing vehicle congestion. Yet, repeated attempts to invite contractors to run the facility have failed. Tenders floated in January and July 2024, and again in March last year, did not attract bidders. Firms that initially showed interest backed out, citing high investment requirements and poor revenue prospects.

Mandatory automation and digitisation of operations have been a major deterrent. Contractors are required to install advanced systems including cameras, boom barriers, sensors, and number‑plate recognition technology, alongside fully digitised entry, exit, and payment infrastructure. With parking fees capped at ₹25 for cars and ₹15 for two‑wheelers per hour, operators argue that recovering such costs is unfeasible.

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In response, authorities issued an Expression of Interest to explore alternative models such as fixed rent or revenue sharing. Two proposals have been received and are currently under review. Officials are considering revised annuity and profit‑sharing clauses to make the project viable and operationalise the long‑idle asset.

The facility has capacity for 735 cars and 110 two‑wheelers, with 40% of the space reserved for licensed traders at the APMC market. Additionally, 26 commercial shops within the complex are being allotted to generate rental income. Strategically located near the metro station, railway station, and industrial areas, the project has the potential to ease parking shortages if finally brought into use.

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