Jaipur Metro puts assets on short-term lease basis

Several of Jaipur metro facilities including the rail coaches are now available on short-term lease basis. The Jaipur Metro Rail Corporation (JMRC) has notified of ‘Policy for granting short-term license of JMRC’s assets. The policy has been implemented with immediate effect to lease its assets such as spaces on the metro station, inside metro coaches and depots for purpose of video shooting and promotional events. 

“It is envisaged to promote Jaipur Metro as an attractive, accessible and affordable venue for promotional events and to create its brand image as a most preferred transport system,” says a JMRC official. 

The policy also establishes an hourly tariff chart for use of running coaches and train set, while the spaces on metro stations and depots will be leased on per day basis. The metro has also provisioned for running dedicated train sets after its operational hours if is required. As for the operational train set, a dedicated coach may be granted outside the committee of designated coaches.

In case of spaces on metro stations and vacant properties of JMRC, retail spaces will be leased for a maximum period of one month. During the period, the leaseholder will be allowed to mount temporary structures following all the safety requisites. Any interested media house, social organisation or company may apply for the license for the available properties as per annexure defined in the policy. 

Short term lease model comes as yet another innovative move of the transport corporation to utilize its non-performing assets. The JMRC has been unable to lease several of its commercial properties despite several attempts, reducing the lease period the corporation officials intend to make them viable for the short-term needs. Many of these properties, for now, are being leased for free for social and non-commercial events.

JMRC as part of its non-fare revenue generation plans had previously decided a policy for the lease of its rail coaches for commercial and private events. The policy though had not attracted many users as the tariff was considerably high, these tariff has now been reduced to as low as Rs 8,000 per coach per hour and Rs 20,000 for a complete train set of four coaches.

The Policy

The policy also establishes an hourly tariff chart for use of running coaches and train set, while the spaces on metro stations and depots will be leased on per day basis. The metro has also provisioned for running dedicated train sets after its operational hours if is required. A dedicated coach may be granted outside the committee of designated coaches.

The Tariff

The policy though had not attracted many users as the tariff was considerably high, these tariff has now been reduced to as low as Rs 8,000 per coach per hour and Rs 20,000 for a complete train set of four coaches.