The upgraded Balvatika near Kankaria Lake will be fully open by the end of April. AMC Standing Committee chairman Devang Dani said the redevelopment contract was given to Superstar Amusement Pvt Ltd on March 14 last year, with a cost of 22 crore.
Now, the AMC will receive an annual rent of Rs 19,23,295, up from Rs 10 lakh previously. In addi-tion to the fixed rent, the contrac-tor will also share 27% of the revenue generated from ticket sales and all income from the lakefront area.
The contractor will also cover all running costs, including staff salaries, security, licenses, housekeeping, maintenance, electricity, and other related expenses.