Jaipur Metro Rail To Lease Out Space At All 9 Stations To Open Retail Shops & Mega Stores

Jaipur Metro Rail To Lease Out Space At All 9 Stations To Open Retail Shops & Mega Stores

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Date of Post: 12 Sep, 2017

Jaipur: The Jaipur Metro Rail Corporation (JMRC) has floated a proposal to lease out space at all 9 stations to open retail shops & mega stores.

JMRC is expecting to earn Rs 9 crore per annum after leasing 52 big & small spaces for retail outlets.

Also, the agency will provide space for food courts, depending on the demand. Tenders for the same will be invited till October 1.

More Information:

  • JMRC, director, corporate affairs, Rajesh Kumar Agarwal said,”We have fixed lease rates at between Rs 700 and Rs 2,500 per sq m for space to set up retail shops. The minimum lease period will be for seven years and the maximum 20 years. JMRC is hoping to earn Rs 72 lakh per month from this move.”
  • JMRC has earmarked bigger spaces for lease at 3 stations – Ram Nagar, Civil Lines & Railway Station.
  • Even banks can open branches at these stations, according to officials.
  • The highest lease rate of Rs 2,500 per sqm has been fixed for space at Railway Station, followed by Ram Nagar at Rs 1,500, sources said.
  • The rate for Civil Lines station is Rs 1,000 per sqm.
  • These shops are expected to open within 4 months; this will give a boost to JMRC.

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