MMRDA which had ambitious plans to commercially develop underground station premises in the third line of the city’s metro project running between Colaba and Bandra, has now scrapped the idea.
Mumbaikars won’t be able to shop at the upcoming underground stations of the city’s metro. The Mumbai Metropolitan Region Development Authority (MMRDA), which had ambitious plans to commercially develop underground station premises in the third line of the city’s metro project running between Colaba and Bandra, has now scrapped the idea. The move comes after a consultant appointed by the authority to study the feasibility of commercial development has given a negative report.
Metropolitan commissioner Ratnakar Gaikwad, who confirmed the development, said the authority had asked consultancy firm Louis Berger to study the feasibility of commercially developing underground metro stations. “The consultancy came up with many theories, which all put together do not benefit our cause,” Gaikwad told DNA.
“For instance, the third line of metro will be partially underground and it will not be possible to provide space for commercial establishments. The consultancy made an observation that the debris generated while constructing the metro will add on if the area is to be commercially developed. Also, the cost and profit matrix wasn’t enough and hence it has been now decided not to develop the underground station area for commercial purposes,” Gaikwad added.
The MMRDA has already finalised the detailed project report (DPR) for the third line of metro, which will be partially underground between Colaba and Mahalaxmi. The 19.85km third line is expected to cost Rs8,857 crore with a viability gap funding of around Rs3,200 crore. The Union minister for urban development S Jaipal Reddy has also earlier promised help from the Centre for constructing the third metro.
Even though the underground commercial development has been ruled out, Gaikwad is still confident of earning through commercial development on the elevated part of the metro line.
“Louis Berger was asked to look at the feasibility of commercial development even on the elevated route, for which, they have given a favourable report. As per the report, we may stand to earn up to Rs300-400 crore from the commercial development. However, a final decision is yet to be taken,” the commissioner said.
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