C Shivakumar @ CHENNAI:
After dilly dallying for several years to commercialise the huge space available in MRTS stations, Chennai Unified Metropolitan Transport Authority is likely to shortlist Taramani and Park Town to be developed under the first phase.
Sources said that according to the draft feasibility report to maximise non-fare box revenue for MRTS stations, the two stations have been prioritised among the 20 MRTS stations. The two stations are likely to be leased out for a period of 45 years. The amount received from lease, advertising and non-fare box revenue (NFBR) of Taramani and Park Town stations added together in the next 45 years is estimated to be around 2363 crore. The non-fare box revenue is revenue generated by sources other than passenger fares.
This would mean the hollow blocks of MRTS will be bustling with life. It would have rental shops, event spaces, wall posters, commercial offices, entertainment centres or gaming arcades, station dormitories, parking area rentals , shopping kiosks, ATM and smart Kiosks, food and beverage among others.
Sources said that Chennai Unified Metropolitan Transport Authority (CUMTA) and Chennai Metropolitan Development Authority have expressed interest in forming Public-Private Partnership (PPP) models with private developers to improve or upgrade MRTS stations and enhance the commuting experience of the passengers. This model facilitates the utilization of the expertise and resources of private entities while ensuring government participation in the proces.
Official sources said that commercialisation of MRTS stations have attracted many developers who are vying to be part of the initiative. Currently, the non-farebox revenue percentages are 6%, 14%, and 16% in Bangalore, Mumbai, and Chennai respectively. This is quite less when compared to international MRTS where the non-farebox revenue contributions range from 30 % to 60%.
Taramani Station has a greater NFBR potential than Parktown Station, owing to its larger area. The stations will be retrofitted and the facilities will be enhanced. Basic amenities such as drinking water, toilets, washbasins, seating, and signage will be upgraded. In addition to fire safety equipment such as fire extinguishers, manual fire alarms, and first aid kits, the implementation of CCTV cameras with 360-degree coverage and a range of 100 metres has been recommended to increase the safety of the stations, sources said.
Sources said the plan is also to develop railway station neighbourhoods through mixed-use development. This includes a mix of residential, commercial, and retail spaces. Taramani Station is an elevated station. This station is between Thiruvanmiyur and Perungudi stations. The station connects two main arterial roads, including OMR and Taramani- Velachery Link Road. The neighbourhood areas are mainly composed of institutional development.
Parktown Station is situated at a major transportation hub. Being a part of an intermodal transportation hub, the station has great potential in terms of passenger footfall throughout the year. The current condition of the station offers numerous unrealized opportunities for NFBR
avenues. The estimated total NFBR rental area is approximately 1,576 sq.ft. The total advertising space is estimated to be 316 sq.ft.
After dilly dallying for several years to commercialise the huge space available in MRTS stations, Chennai Unified Metropolitan Transport Authority is likely to shortlist Taramani and Park Town to be developed under the first phase.
Sources said that according to the draft feasibility report to maximise non-fare box revenue for MRTS stations, the two stations have been prioritised among the 20 MRTS stations. The two stations are likely to be leased out for a period of 45 years. The amount received from lease, advertising and non-fare box revenue (NFBR) of Taramani and Park Town stations added together in the next 45 years is estimated to be around 2363 crore. The non-fare box revenue is revenue generated by sources other than passenger fares.
This would mean the hollow blocks of MRTS will be bustling with life. It would have rental shops, event spaces, wall posters, commercial offices, entertainment centres or gaming arcades, station dormitories, parking area rentals , shopping kiosks, ATM and smart Kiosks, food and beverage among others.
Sources said that Chennai Unified Metropolitan Transport Authority (CUMTA) and Chennai Metropolitan Development Authority have expressed interest in forming Public-Private Partnership (PPP) models with private developers to improve or upgrade MRTS stations and enhance the commuting experience of the passengers. This model facilitates the utilization of the expertise and resources of private entities while ensuring government participation in the proces.
Official sources said that commercialisation of MRTS stations have attracted many developers who are vying to be part of the initiative. Currently, the non-farebox revenue percentages are 6%, 14%, and 16% in Bangalore, Mumbai, and Chennai respectively. This is quite less when compared to international MRTS where the non-farebox revenue contributions range from 30 % to 60%.
Taramani Station has a greater NFBR potential than Parktown Station, owing to its larger area. The stations will be retrofitted and the facilities will be enhanced. Basic amenities such as drinking water, toilets, washbasins, seating, and signage will be upgraded. In addition to fire safety equipment such as fire extinguishers, manual fire alarms, and first aid kits, the implementation of CCTV cameras with 360-degree coverage and a range of 100 metres has been recommended to increase the safety of the stations, sources said.
Sources said the plan is also to develop railway station neighbourhoods through mixed-use development. This includes a mix of residential, commercial, and retail spaces. Taramani Station is an elevated station. This station is between Thiruvanmiyur and Perungudi stations. The station connects two main arterial roads, including OMR and Taramani- Velachery Link Road. The neighbourhood areas are mainly composed of institutional development.
Parktown Station is situated at a major transportation hub. Being a part of an intermodal transportation hub, the station has great potential in terms of passenger footfall throughout the year. The current condition of the station offers numerous unrealized opportunities for NFBR
avenues. The estimated total NFBR rental area is approximately 1,576 sq.ft. The total advertising space is estimated to be 316 sq.ft.
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