News Brief
Mumbai Metro (Representative Image)
The operators of Mumbai Metro Lines 2A and 7 have moved to monetise the substantial real estate they control along the city’s metro corridors.
Maha Mumbai Metro Operation Corporation Limited (MMMOCL), subsidiary of the Mumbai Metropolitan Region Development Authority (MMRDA), has floated tenders to lease 68,166 sq ft across multiple stations for retail and commercial use, as per a Hindustan Times report.
Rubal Agrawal, managing director of MMMOCL, highlighted the dual benefits of the initiative, “Leasing commercial space at metro stations unlocks tremendous commercial potential for entrepreneurs while strengthening MMMOCL’s non-fare box revenue strategy. Retailers benefit from direct access to lakhs of daily commuters, and commuters enjoy a richer, more convenient journey. It’s a win-win model that supports both business growth and public service.”
The move mirrors a strategy adopted by Reliance Infrastructure-led Mumbai Metro One Private Limited (MMOPL), which operates Line 1 (Ghatkopar to Versova) and has sought to bolster income from non-fare sources.
A panel set up by MMRDA, which co-owns MMOPL with Reliance Infrastructure, is reviewing the initiative.
The leasing of commercial and retail spaces is intended to raise funds that will enhance the operational viability of the metro network and support sustainable growth.
The strategy comes as Mumbai’s metro sees rising footfall, with daily weekday ridership on lines 2A and 7 surpassing 3.3 lakh passengers.