by THO
The Noida Metro Rail Corporation (NMRC), which currently operates the Aqua Line in Gautam Budh Nagar, said on Wednesday that it will sublease its commercial properties along the line to raise more non-fare revenue.
The NMRC has brought in a new scheme through which it plans to enhance non-fare revenue models such as subleasing kiosk space on a “first come, first served” basis unlike the earlier system of allotting kiosks through the tendering process, said officials, adding that they expect the new scheme lure in more investors.
“The Noida Metro’s new scheme has smoothened out the process for business groups to obtain commercial spaces at metro stations, doing away with the need for tedious tendering processes.We will instead allot space on a “first come, first served” basis,” said Mahendra Prasad, executive director, NMRC.
“Under the new system, an allottee will pay a fixed monthly fee per square metre. This new scheme will encourage startups and first-time entrepreneurs as Noida Metro has smoothened out the process. This reflects NMRC’s commitment to creating a dynamic business ecosystem within metro stations, providing both operational flexibility and valuable economic opportunities for entrepreneurs,” Prasad said.
The NMRC will raise ₹4.5 crore annually by subleasing commercial space on Aqua Line. The NMRC will allot the space for five years, and the allottee will have to pay a monthly rent, said officials.
It had allotted commercial properties in 2018-19 through tendering and was getting an annual rent of ₹15 crore from those properties. After allotment under the new scheme, the NMRC hopes to collect around ₹20 crore annually from all its commercial properties, said officials.
Kiosk spaces up to 10 square metres will be available for businesses such as small retail shops, ATMs, and other innovative concepts fitting within the designated size limit.
The policy, effective 15 days after its online notification, allows interested parties to evaluate spaces at any of the 21 existing stations before applying.
Licenses will be granted for an initial three-year period, provided the businesses show stability and the potential to extend lease for an additional two years. In addition to the kiosk initiative, NMRC is also introducing outdoor advertising along its metro piers and medians.
Alongside these initiatives, NMRC also plans to expand Aqua Line, taking the metro deep into pockets of Noida and Greater Noida. The proposed Noida Sector 51 to Knowledge Park-5 project, with a length of 17.43km, awaits state government approval following the submission of a revised detailed project report (DPR) on February 6, 2024.
“The 11.56km Noida Sector 142 to Botanical Garden corridor awaits final approval for its DPR from the central government. A 2.6km extension from Depot station to Boraki, is also pending final approval from the central government The skywalk connecting Aqua Line’s Sector 51 station to Blue Line’s Sector 52 station will also be ready by January 2025,” said Prasad.
NMRC, which had been operating the Aqua Line since January 26, 2019, has witnessed a rise in ridership. Daily ridership reached 64,068 in September 2024 from 11,852 in January 2019 when the service started. However, daily ridership decreased to 58,273 in October 2024. NMRC attributed the decline to closure of schools and colleges in Noida and Greater Noida owing to the festive season.
