Coke Hi-Tec City station or 50X Nagole station or Care Bank Raidurg station. Don’t be surprised if you find the elevated Metro Rail stations across the three corridors where the project is coming up branded by the sponsors.
In fact, L&T Metro Rail Hyderabad (L&TMRH), the concessionaire building the project, has already sold brand rights for 10 stations including Raidurg, Nampally, Dilsukhnagar, L.B.Nagar, RTC crossroads, Charminar, Sultan Bazaar and a few others, according to senior officials of L&TMRH.
Retail space
While the project itself being built by the L&T Metro Rail Hyderabad (L&TMRH) may be undergoing last mile pangs of construction, its business potential seems to be really zooming and how! About 70 per cent of the retail space available in the overhead stations across the three corridors has already been booked, they claim.
In fact, the entire 4,000 sq.ft of the retail space available on the Hi-Tec City station has been sold out; it falls in Corridor Three from Nagole to Raidurg or about 29 km with 23 other stations en route. Other stations with 50 per cent of the retail space booked inside the overhead stations are Nagole, Uppal, and Tarnaka – again on Corridor Three.
Then retail space has also been popular at the stations of Miyapur, JNTU-Kukatpally and KPHB on Corridor One from Miyapur to L.B.Nagar. “This is a record of sorts for such a project during its non-commissioning period,” exults Sanjay Kapoor, Head – Corporate Communications & Advertisement Business, L&TMRH.
Revenue
Metro rail operations is expected to get revenue from three main sources like ticketing, transit oriented development (TOD) and non-fare sources which includes retail space. Retail is the a key stream for our TOD branded as “Hyderabad Next” and the extent of retail space depends upon the market demand and supply, revenue depends upon the market affordability, potential and demand, he says.
TOD is expected to contribute to about 45 per cent of the overall revenue streams. L&TMRH as per the Concessionaire Agreement (CA) signed with the State government is entitled to build and own 18.5 million sq.ft of retail space in the 66 stations on all three Corridors and in the depots of Uppal, Miyapur and also Falaknuma- once the old city alignment is firmed up, for a period of 60 years.
