After leasing out space for advertisements in the year 2018-19, the Jaipur Metro Rail Corporation (JMRC) is going to rent out space at 9 stations. These will be used to set up retail shops and megastores in a phased manner. While the advertisements help the corporation to earn revenues worth INR 11 Crores, the retail outlets will help in earning INR 8 Crores per annum.
Reports suggest that the tenders for Mansarovar and New Atish Market stations have already been invited by Jaipur Metro. Besides, a pre-bid meeting is likely to be held on April 19. This project is expected to provide a boost to JRMC in earning additional revenue.
Jaipur Metro Mansarovar Station
The Metro Corporation has also fixed the lease rates for spaces where retail shops will be set up that starts from INR 700 per square meter and goes up to INR 2,500 per square meter. Further, the minimum lease period ranges from 7 years to 20 years. Once all the stations are given out on rent, the corporation is hoping to earn INR 72 Lakhs per month that equates to 8.64 Crores per annum.
As per the details, JRMC has marked bigger spaces for stations like Ram Nagar, Civil Lines, and Railway Station with the highest lease rate of INR 1500 per sqm, INR 1,000 per sqm, and INR 2,500 per sqm, respectively. However, there are a few stations like Chandpole where bidders’ participation is negligible because of the slump in real estate market.
Since the income from the sale of tickets is not enough for the maintenance and operation of the Metro, the corporation is making efforts to earn more non-operation revenue. The metro corporation has even incurred a loss of INR 46 Crores in the past two financial years.
