Easy access to Metro-3: MMRC in talks with developers, corporates

To provide residential and commercial complexes easy access to Metro-3 stations, the Mumbai Metro Rail Corporation (MMRC) is approaching developer associations in

To provide residential and commercial complexes easy access to Metro-3 stations, the Mumbai Metro Rail Corporation (MMRC) is approaching developer associations in and around Bandra-Kurla Complex (BKC), Lower Parel, and the international airport.

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MMRC is in talks with the BKC Property Owners’ Association, and the Mumbai Mile Regeneration Association (MMRA), a non-profit organisation of developers, residents’ associations and corporates in Senapati Bapat Marg, for the BKC and Science Museum stations, respectively. The corporation also aims to interact with hotels and commercial offices near the international airport to enable direct access to the T2 station.

MMRC, which is executing the underground Colaba-Bandra-Seepz line, wants to connect residential or commercial complexes within a 500-metre radius of Metro stations via underground subways. While MMRC will facilitate the construction of the subway, the cost has to be borne by the bidder. While it had floated an expression of interest (EOI) in November 2019 and received bidders, the corporation is now looking at approaching more developers. R Ramana, executive director, MMRC said, “The construction of an underground subway is an expensive proposition. It will be feasible for more than two developers to pool their funds for the subway. Also, as the construction is already underway, it is the right time to undertake these collaborations.”

According to MMRC’s EOI, the underground subways can cost ₹10 lakh-₹12 lakh for every metre. The cost can differ on the basis of the length and location of the subway. The developers will also be expected to pay a one-time premium and maintenance expenses to MMRC.

MMRC, which floated the EOI in November, has received 12 bids from seven developers like K Raheja Corp, DB Realty, Wadhwa, Oberoi and Indiabulls for the BKC, T2, Worli, Science Museum and Acharya Atre Chowk stations. An official from MMRC said, “We will now prepare a detailed project report for each of the underground subways.”

Jayesh Shah, president, BKC Property Owners Association, said, “Although we are yet to see the plan, it is a good proposition as it will encourage people to use public transport and ease traffic congestion in BKC.”

MMRC REACHES OUT TO CORPORATES

MMRC, which has floated an EOI for station name rights, is also reaching out to corporate firms located near stations. Station name rights refer to brand names used as a suffix or prefix to the station’s name. It is a common practise to generate non-fare revenue, even internationally. “There are many corporate offices or outlets next to the stations like Zara near Flora Fountain, Mahindra near Acharya Atre Chowk or Phoenix Mills near the Science Museum station, which can look at acquiring station name rights,” said an MMRC official.