DMRC to develop warehousing facility under Metro depot

THE MOVE COMES IN THE WAKE OF SEVERAL COMMERCIAL SPACES DEVELOPED BY THE DMRC LYING VACANT

After developing malls, office complexes, food courts and residential complexes, the Delhi Metro will now sell space for warehouses at Metro depots.

The move comes in the wake of several commercial properties developed by the Delhi Metro Rail Corporation (DMRC) at stations across the city lying vacant.

After the residential complex generated public interest, the DMRC will invite tenders for developing warehousing facilities near Sarita Vihar and Jasola Vihar Metro station.

Last year, an internal analysis by the DMRC revealed that almost one lakh square metre space, good enough to construct 1,000 shops, is lying unused at Metro stations across DelhiNCR. In south Delhi’s Malviya Nagar, it has given land to construct a mall, while in Nehru Place, it will come up with another food court. Recently, DMRC has decided to come up with residential complex, which is likely to generate good revenue for the company.

“A lot of our revenue comes through property development and what commercial establishment needs to be developed is decided after survey of the area. The area around Sarita Vihar has showrooms of almost every car brand and they need space to keep car. Keeping the demand of storage facility in mind, we will develop two sites for warehouse,” said a DMRC official.

At Sarita Vihar, DMRC has a plot of 35,440 square metres and it can build warehouse in 28,352 sqm area since 80% of the Floor Area Ratio (FAR) is permitted.

“The lease period is kept as 30 years for the warehousing facil- ity, which includes three years rent free moratorium period for the development. The open tender has been invited and the first pre-bid meeting was held on March 30 and second pre-bid meeting was held on May 2. The tender shall be opened on June 1. It was good response during prebid meeting,” said a DMRC spokesperson.

Delhi Metro has another 50,840 sqm area available below the stabling yard (Metro depot) at Jasola Vihar. According to DMRC, as per master plan 2021, commercial development is also allowed in Metro yards.

“Therefore, this area is planned for warehousing facility below stabling yard and lease period is planned for 30 years. The finance proposal is under scrutiny and tender will be called after seeing the response of the first warehousing project,” the spokesperson said.

DMRC official said that notification of Ministry of Urban Development on changes in Transit Oriented Development Policy (TOD) policy has also paved way for vertical growth along the Delhi Metro corridor, which will eventually help them to use more space for commercial purpose.

Under the TOD policy, a Floor Area Ratio of 400 has been approved. This will enable highrises to come up in these areas and make for denser colonies. TOD colonies can come up in the ‘influence zone’ of the Metro, which extends to 500 metres on both sides of the corridor.