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Hyderabad Metro Rail makes big biz
The Metro Rail has added yet another feather to its cap by succeeding in selling about 50 per cent commercial space three months ahead of inauguration of the first phase of railway stations covering a distance of 8 km.
L&T Metro Rail sells 50% commercial space at stations three months ahead of inauguration
Hyderabad: The Metro Rail has added yet another feather to its cap by succeeding in selling about 50 per cent commercial space three months ahead of inauguration of the first phase of railway stations covering a distance of 8 km. This is considered to be a unique success as Metro Rail in cities like Delhi and Mumbai had to wait for sometime after the stations were thrown open for public, Chief Executive and Managing Director of L&T Metro Rail Hyderabad V B Gadgil told The Hans India.
The first stage of the elevated Metro Rail between Nagole and Mettuguda would be thrown open to public on March 21, 2015 and work on the lifts, escalators and staircases is going on at brisk pace. Another encouraging feature was that they have been able to licence minimum of nine shops in all the 60 stations in the three corridors where the works were still in progress, Gadgil said. This amounts to 16 per cent booking overall. The retail space varies between 2000 sft to 40,000 sft.
Out of the 60 stations, three are interchange stations. Two are special stations which have an extra mezzanine floor for retail. A senior official said the response has been good and now the L&T is looking forward to grocery and laundry outlets. As of now food and beverages, medical, flower shops and mobile stores are confirmed. The project’s financial viability is based on 50 per cent of the revenue from passenger fares, 45 per cent from property development and five per cent from advertisements and other sources.
By:T P Venu
