Bulk renting of shops in Namma Metro stations to begin soon

BENGALURU: BMRCL is going for a radical approach to rent out vast commercial space inside the stations of both its Phase-I and Phase-II network. Bulk allotment of shops followed by online auction for spaces will be adopted. Speaking to TNIE, BMRCL Managing Director Anjum Parwez said that instead of asking companies to bid, the agency has decided to go in for a fixed rate system with a first come first serve policy for allotment. The tenders are likely to be floated in a week. 

Companies have an option of a three-month contract, he added. “The rental cost will be much higher, particularly for A+ Metro stations (busiest stations) at Rs 2,000 per sq ft. Contract options for six months, 1 year and up to 3 years will be there.

The longer the duration, the higher will be the discount which would be substantial,” he said. The procedure would be in place for a mo­nth. A bidder can to take up ma­x­imum of 10 kiosks spread acr­oss a minimum of five statio­ns, he added. The space to be allotted has been raised from the 100 sq ft earmarked for an outlet to 150-200 sq ft. An online auction of shops will be held with a 45-day time limit for bidding. Shops which had failed to find any bidders or vac­ated due to huge losses during Covid will be covered. “BMRCL is looking to earn between Rs 50 crore and Rs 60 crore per annum,” he said.