Advertisement has thus helped the metro to keep up its targets as it faces disappointment on the real estate side.
Despite the real estate blues and dwindling passenger fare, Jaipur Metro Rail Corporation (JMRC) is gaining momentum when it comes to capitalising on advertisements.
The advertisement agreements assure a multiple fold rise in the non-fare revenue for the corporation. “The metro has already made agreements aggregating to over Rs 14.5 crore for lease of advertisement and other spaces in this fiscal year,” says Rajesh Kumar Agarwal, director Corporate Affairs.
The non fare revenue of JMRC during last fiscal was around Rs 4.5 crore. The metro thus has already surpassed its previous years collection and is set to cross the passenger fare revenue which was less than Rs 9 crore during last fiscal.
Advertisement has thus helped the metro to keep up its targets as it faces disappointment on the real estate side. It has only been bank ATMs and mobile towers that have so far secured ‘commercial spaces’ at the Jaipur metro stations. Other commercial properties remain ‘available for lease’ as JMRC continues to amend and extend dates for accepting bids.
More recently, the last date to bid for lease of commercial spaces at Vivek Vihar metro station got extended due to lack of bidder interest. Efforts for lease of properties at other metro stations have not been able to materialise to revenue expectations of the Jaipur metro. “Real estate sector is slow, so there is lack of demand. In case of Vivek Vihar, extension has been made on request of interested investors,” an officer said.
The low inflow of passengers has also demotivate many probable investors. Metro is expected to reach its design passenger target over the next decade. Many investors find it too long a period to wait and the lease agreement too is for short duration.
The Revenue
The non fare revenue of JMRC during last fiscal was around Rs 4.5 crore. The metro thus has already surpassed its previous years collection and is set to cross the passenger fare revenue which was less than Rs9 crore during last fiscal.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Jaipur Metro")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}