The Tripunithura Municipal Council has initiated tender procedures for leasing out commercial space in two long-delayed shopping complexes, the T K Ramakrishnan Memorial Mall and the A G Raghava Menon Mall, marking a step towards making them operational after years of underutilization.
The council finalized minimum rent and deposit rates for the shop units in both complexes and moved ahead with inviting tenders from potential tenants. Alongside this, the council amended its bylaws to reclassify the facilities as commercial buildings, a move seen as critical to overcoming earlier procedural hurdles.
The two complexes were constructed more than five years ago with funds from the local body. The T K Ramakrishnan Memorial Mall was developed at a cost of ₹10 crore, while the A G Raghava Menon Mall required ₹8.5 crore. Both projects were inaugurated in 2020 during the tenure of the previous municipal council, but despite the investment, they remained largely unoccupied and failed to generate the expected commercial activity.
Municipality Chairperson Rema Santhosh stated that the complexes were originally intended to function as malls but faced multiple challenges. Leasing attempts coincided with the Covid-19 pandemic and subsequent economic slowdown, which severely impacted the retail and commercial property sector. She pointed out that despite three separate rounds of tendering and two additional direct attempts to attract lessees, no applications were received.
After repeated setbacks, the municipal council amended its bylaws, officially reclassifying the properties as commercial buildings rather than malls. The decision was taken unanimously and is expected to improve the viability of the tender process by expanding the range of potential tenants and uses.
A recent audit report had also flagged the prolonged non-utilization of the complexes as a significant issue. The report highlighted the revenue losses faced by the municipality due to the non-operation of the facilities and recommended immediate corrective measures. It specifically advised converting the properties into shopping complexes with flexible commercial leasing, noting that this would be more practical and financially sustainable compared to their earlier positioning as malls.
With the new classification in place, municipal officials have expressed optimism that the tender process will attract greater interest from local entrepreneurs and traders. The council is now actively urging small and medium business operators from Tripunithura and surrounding areas to participate in the process. Officials emphasized that the facilities, located in prime areas of the town, could provide affordable commercial space and stimulate local economic activity once operational.
The revival of these projects is also significant from the perspective of municipal finances. Large sums of public funds were spent on their construction, but the inability to operationalize the malls over the past five years has been viewed as a serious lapse. By pushing ahead with fresh tenders and repositioning the properties as general commercial complexes, the municipality is attempting to ensure that the investments start yielding revenue while also providing business opportunities to local traders.
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