The Jaipur Metro Rail Corporation (JMRC) is now hunting for newer ways of revenue, apart from it’s primary business. The JMRC is now looking for ancillary sources of revenue which will fill the revenue bag of Jaipur Metro Corporation.
As a matter of fact, the JMRC revenue has dipped down considerably in it’s second year of operations. A reason for lower revenue is cheaply priced tickets added to a lesser number of travellers.
As a part of revenue creation strategy, the corporation has drafted a proposal to lease out space to earn rental income. The corporation has proposed to lease out at all nine stations to open 50 retail shops.
The process of getting approvals for these drafts will be completed expeditiously. The proposal has already been forwarded to the state government. A final word from the state government is now awaited.
The JMRC is expecting to earn revenue of Rs 9 crore per annum after leasing out space for these shops.
“We have fixed rates between Rs 700 and Rs 2,000 per sqm to lease out the space to retail shops. The maximum lease would be given for 20 years. The JMRC is hoping to earn Rs 72 lakh per month,” said a JMRC official.
At three stations – Ram Nagar, Civil Lines and Railway Station – the JMRC has earmarked bigger spaces for lease.
“The highest rate for lease, Rs 2,000 per sqm has been fixed for Railway Station. Following this, Rs 1,500 per sqm has been fixed for Ram Nagar, while the rates for Civil Lines station is Rs 1,000 per sqm,” the official added.
Sources also say that the past experiences of the renting business has not been favourable for JMRC. The JMRC had solicited tenders in the past to sell space for advertisements. However, only a handful of firms showed their interest in the same.
As far as figures are concerned, the average ridership in Jaipur Metro dropped from 49,774 per day in the first month (June’15) of its operations to only 19,390 per day in December ‘16.
