Church Leases out Prime Property to Realtor
Under a transferable development rights partnership, the Mumbai-based builder in exchange will construct a 250-million rupee multi-storey building.
Source: timesofindia.indiatimes.com
In what is perhaps the first of its kind land deal in Kerala’s Church history, rights to a 1.8-acre plot on Periyar river bank in Aluva, owned by Carmelgiri seminary, has been given to a private builder.
Under a transferable development rights partnership, Mumbai-based Leo Builders and Developers in exchange will construct a 250-million rupee multi-storey building that will serve as the Latin Church's secretariat.
While the secretariat will come up on the Carmelgiri campus, the residential-cum-commercial complex will be built near it. The Church will have a stake in the commercial building.
Church officials have come to an agreement with the builder which is run by a member of the congregation and the complex will be completed within three years.
"Since we cannot meet the expense, we decided to go for a joint venture. Instead of selling the land we agreed for a share in the building so that the revenue from the commercial complex can be used for our various activities," said Archbishop Soosa Pakiam of Trivandrum.
"The builders will invest a certain amount, but it is more like a contribution to the church's development than any business interests,” he said.
The deal was brokered to fulfil the wish of the Kerala Region Latin Catholic Council to have a secretariat like the headquarters of the other two rites.
St. Thomas Mount: the envious Syro Malabar Centre in Kakanaattu  |
| St. Thomas Mount: the envious Syro Malabar Centre in Kakanaattu |
While the Syro-Malabar Church has the sprawling St Thomas Mount in Kakkanad as its centre, the Syro-Malankara faction has its Catholicate in Thiruvananthapuram.
The new complex at Carmelgiri, with a history dating back to 1682, would coordinate the work of all its 11 dioceses and various committees as well as conducting Bible classes and courses.
"The complex will not come up on the campus, and there will be residential facilities also. We are working on the details," said Fr Francis Xavier Thannikkaparambil, KRLCC's general secretary.
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