The Hindu : Andhra Pradesh / Hyderabad News : Maytas can develop 18.5 million sq.ft space

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Saturday, Aug 09, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Maytas can develop 18.5 million sq.ft space

Special Correspondent

About 269 acres of land to be given to the consortium

HYDERABAD: The Maytas-led consortium, that made a jaw dropping financial bid to bag the metro rail project, can build 18.5 million sq.ft. of space in both depots and stations along the three corridors.

Total land to be given for the consortium during the period is 269 acres of which 104 acres is for Miyapur depot and terminal station, 100 acres for Nagole depot and station and 21 acres for Falaknuma depot and station.

Besides, there is 44 acres available atop the parking and circulation areas of about 34 stations. The consortium also consisting of Navabharat, Ital Thai and IL&FS, can build and utilise 12.5 million sq.ft at depots and six million sq.ft. at stations’ parking and circulation spots.

No stations will, however, have extra built-up space but 10 per cent will be given for shops selling goods useful for commuters, explained Hyderabad Metro Rail (HMR) Limited Managing Director N.V.S. Reddy to presspersons on Friday. The city’s growth potential might have prompted the Maytas-led consortium to come up with such a bid, he observed. While no passenger traffic guarantee was given to the bidders, HMR has offered to extend the concession period by a year for every one per cent fall in the number of passengers, to the maximum of six years with no amounts to be paid.

In return, the consortium has to reduce the concession period to three years if the load is more than the projected figure of 16 lakh passengers a day by 2013.

“We have offered our traffic model for critical review by bidders and offered to change if there is 20 per cent variation, but it did not happen. We are sure of nine lakh passengers to begin with,” said Mr. Reddy.

The bid document projects revenues to the developer from ticketing - 84 per cent, real estate – 12 per cent and four per cent from advertisements, although the last two components are sure to increase, he said.

He further pointed out that the Planning Commission was recommending the Hyderabad model for other metro projects.

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