The Maharashtra Metro Rail Corporation Limited (Maha-Metro) has launched a new initiative to lease business spaces at selected metro stations, in partnership with real estate brokers. This move is expected to boost revenue through these property business spaces (PBS).
As reported by the Hindustan Times, the initiative encompasses 38 small and 24 large PBS spread across 23 metro stations. Maha-Metro plans to lease these spaces on a long-term basis. Small business spaces are defined as those less than 100 square meters, while large spaces exceed 100 square meters.
The corporation issued a tender for this initiative on September 1, with a pre-bid meeting scheduled for the coming Monday. According to Hemant Sonawane, executive director of administration and public relations at Maha-Metro, detailed information is available on the Maha-Metro website, and applicants are also invited to visit the sites in person.
The leasing period is planned for nine years, and currently, six spaces have been put up for bid. Additionally, there are 24 large spaces and two independent property development floors available for lease at metro stations.
The activities permitted in these leased spaces will be regulated by Maha-Metro. Allowable businesses include departmental stores, discount stores, daily needs shops, retail and general stores, restaurants, and fast food stalls, though only electric-based reheating is permitted.
Other permissible facilities include offices, internet banks, e-lounges, coaching and computer training centers, clinics, salons, gyms, healthcare facilities, legally approved entertainment and gaming venues, showrooms for consumer goods, ATMs, and vending machines.