Aiming to garner 50% of its revenues from the non-fare class and set a brand new precedent for Metro initiatives, Pune Metro has acquired off to a promising begin within the phase
The Rs 11,420-crore Pune Metro is being readied for its inaugural trip. The 12-km precedence stretch of the mission with 10 stations is finished and dusted. However even earlier than tickets are bought and commuters get to get pleasure from their first trip within the metropolis, Pune Metro has opened its non-fare income account, promoting practice wrappings and co-branding rights for a few stations.
It is a results of foreplanning that took under consideration the document of different Metro initiatives in India, which have seen fare revenues fail to cowl prices. An earlier research had estimated a income hole of Rs 360 crore a yr for the Pune Metro, on condition that it has to pay again Rs 5,800 crore with curiosity that it has borrowed from abroad improvement establishments. Since elevating fares would have harm ridership, Pune Metro has set an formidable goal of garnering 50% of its revenues from the non-fare class.
Brijesh Dixit, CMD of the Maharashtra Metro Rail Company Restricted (Maha Metro), the 50:50 JV between the Centre and the Maharashtra authorities which is the nodal company for the mission, says the blue print for non-fare revenues was part of the detailed mission report (DPR) ready for the community. In keeping with him, the very best share of non-fare income for a Metro mission within the nation is round 20% for the Delhi Metro and Pune Metro desires to raised that document. A 50% share of revenues from the non-fare class would put Pune within the league of the Hong Kong metro system and Singapore Metro which have executed very effectively on that entrance.
In keeping with Dixit, the Transit Oriented Improvement (TOD) phase and a further cess levied by the municipal company can be main sources of non-fare income for the Pune Metro. Whereas these would take time, it has made a begin with non-land primarily based income choices. These embrace ads, practice wraps and station rebranding. One buyer it has discovered is the Pune-headquartered Financial institution of Maharashtra, a public sector financial institution, which has opted for practice wrappings. The Pune Metro is providing practice wrappings at an annual charge of Rs 25 lakh per wrapping.
Station naming rights too have discovered takers. Whereas tendering for co-branding rights for a choose ten stations for a interval of 5 years has been carried out, two of those stations have been picked up by corporations – the Garware School Metro Station will probably be co-branded with Sahyadri Hospitals for Rs 3.96 crore whereas the Nal Cease Metro Station will probably be co-branded with Shree Venkatesh Buildcon Pvt Ltd for Rs 3.35 crore. Tenders for show of ads on trains are additionally out, with the market displaying an urge for food to make use of this house.
In keeping with Prakash Misal, head of the planning division of Pune Metro, the Maharashtra authorities is levying a 1% further surcharge on stamp obligation, allocating 75% of its proceeds for Metro initiatives. There can even be further property improvement expenses for a 500-metre space alongside the community. Additional, the federal government has put a premium for availing further FSI, which might be distributed between Maha-Metro and the native planning authority. Land-based revenues are additionally anticipated from improvement of property on PPP mode on the Vanaz and Vary Hill Depot and the Swargate and Civil Courtroom stations, with near 7 mn sq ft of mixed-use actual property house being developed, Misal says.
The primary part of the Pune Metro contains a 16.58-km Hall-1 from Pimpri Chinchwad to Swargate with 14 stations and a 14.66-km Hall-2 from Vanaz to Ramwadi with 16 stations.
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