DMRC struggling to rent out space at Metro stations
Once a hot property to set up business, the Delhi Metro stations, with vacant spaces enough to accommodate a thousand shops, seem to find no takers.delhi Updated: Jul 02, 2016 22:15 IST
Once a hot property to set up business, the Delhi Metro stations, with vacant spaces enough to accommodate a thousand shops, seem to find no takers.
Delhi Metro Rail Corporation’s (DMRC) internal analysis showed that 100,000 square metres space is lying unused at stations across Delhi-NCR.
“We have conducted an analysis of 165 Metro stations and a majority of space is lying vacant on stations in Faridabad, on Dwarka side and on the Red line towards Seelampur. At the IT Park in Shastri Park, we have space on six-seven floors. We will soon reissue a tender at low rates,” said a senior DMRC official.
DMRC says many are not interested because the spaces are not in prime locations. The disinterest, however, will hit the mass transporter’s plans to shore up revenues through property development. An official said they also planned other schemes to rent out the spaces.
In other attempts to fill up their coffers, the DMRC will set up a complex near central Delhi’s Jantar Mantar and rent it out to offices.
Further, a DMRC official said the Centre’s policy changes about property development along the Metro corridor is also expected to boost DMRC revenues.
The Union urban development ministry expanded the Transit Oriented Development (TOD) Policy to allow high rises and denser colonies to come up within 500 meters on either side of the Metro corridor. This will eventually help the transporter use more space for commercial purpose.
Officials said TOD focuses on sustainable use of land by minimising travel time for citizens, promoting public transport and reducing pollution and congestion.