 "MMRC aims for 15% revenue from non-fare options post underground corridor")
Mumbai’s Metro rail authority is exploring non-fare revenue options as the city builds its first underground corridor. If all goes well, real estate establishments will be able to build a direct subway access from their basements to the nearest metro station, all for a one-time fee.
The underground line, Mumbai Metro Line 3, covers 33 kilometres and connects the city’s airport terminals and three prominent business districts.
“MMRCL (Mumbai Metro Rail Corporation) has received 12 expressions of interest (EoIs) submissions for direct access,” said an MMRCL official. A direct access connects establishments in the vicinity of a metro station through a dedicated subway.
The list of interested bidders includes real estate developers like K Raheja Corp, DB Realty, Wadhwa Group, Oberoi Realty, Indiabulls Real Estate and Shrem Hotels. MMRCL officials are also in discussion with projects around the city’s airport and two business districts — Parel and Bandra-Kurla complex.
The EoIs will be followed up with a detailed project report (DPR) to assess financial and execution feasibility of the subway project that bidders have expressed interest in.
The direct access concept is based on Tokyo’s model, where it has been a success. MMRC will need to procure required clearances after formulation of the DPR.
Line 3 of Mumbai Metro is to be operational in two phases — the first to start in June 2021, and the second phase by the end of that year.
With a project cost of Rs 30,000 crore, non-fare revenue options will help MMRC lower fares. The corridor is expected to have a daily ridership of 1.4-1.7 million. The MMRC official added, the non-fare revenue options will be finalised and implemented before the operations start.
*MMRC's non-fare revenue options
Direct access: Subways to connect office basement to metro station
Station naming rights: Name a station after a product, brand name
Telecom, fiber rights: Rights to install towers, lay optic fiber cables
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