Property development being a major source of earning revenue and a considerable help in paying off loans, the Delhi Metro Rail Corporation is now looking towards letting out its premises at Dwarka for commercial purposes.
At the newly-constructed Dwarka Sector 21 station that will become operational this Saturday, the DMRC has at its disposal over 20,000 square metres space that can be allotted for commercial purposes and property development.
According to a senior official, the DMRC is working out the details of giving out the space on a 15-year licence. “There is approximately 22,100 sq m of commercial space available on the ground, the first and the second floors of the new Dwarka Sector 21 metro station building. On the ground floor we have 1,100 sq m, and on the first and the second floors we have 11,000 sq m and 10,000 sq m of space available respectively,” said an official.
The fact that the Dwarka Sector 21 station will emerge as a major transportation hub means better remuneration for the DMRC as well as for those working out of the complex. “Dwarka Sector 21 will soon be a very important centre. The Rajiv Chowk-Dwarka Metro Line, and the New Delhi-Airport Express line both terminate at this station, which is located about 5 km from Indira Gandhi InternationalAirport,” the official pointed out.
Expected to receive heavy footfalls, the station will have a rail and bus terminus coming up within a 1-km radius. “In close proximity the Northern Railway will be setting up a major railway terminal for the trains coming to Delhi from Western India. Also, an inter-state bus terminal is coming up nearby. A five-star hotel is being set up by the Taj Group just about half-a-km away. These will ensure that it will prove to be lucrative for commercial operations,” said the official.
Although, yet to work out the details, the DMRC says the space available will be suitable for various business propositions. “This station serves a very large residential section of Dwarka sub-city. That apart, the space being licensed out is eminently suited for a retail mall, department store, a business hotel or even serviced apartments,” the official said.
