Noida Metro offers commercial plots near Okhla Bird Sanctuary station

19 Sep 2024 CW Team

Noida Metro Rail Corporation (NMRC) has released an expression of interest (EOI) for the commercial development of three plots totalling 44,151 square meters near the Okhla Bird Sanctuary metro station. These plots are strategically located near high-rise buildings such as Supertech's Supernova and educational institutions like Amity University.

Currently, NMRC operates the Aqua Line, a 29.7-kilometer stretch from Sector 51 to Depot Station in Greater Noida. Since its launch in January 2019, the Aqua Line has seen a significant increase in daily ridership, growing from 18,000 passengers in 2019 to 55,000 in 2024.

In the EOI document, NMRC highlighted its ownership of properties adjacent to the Okhla Bird Sanctuary metro station and stressed the importance of sustainable project operations through innovative revenue strategies. The document noted, "Globally, most transport systems have adopted innovative methods to finance projects through commercial property development. NMRC intends to select a suitable developer, concessionaire, or licensee for the development of Plot FC 04 in Sector 94 near Okhla Bird Sanctuary Metro Station on a public-private partnership model through an open bidding process."

Officials stated that the EOI process aims to attract experienced firms, developers, and institutions with expertise in commercial real estate development, including project management, financing, marketing, design, leasing, and management. The plots, designated for commercial use under the Noida Master Plan and Noida Building Byelaws 2010, will be available for a lease period of up to 60 years from the date of execution. Developers are expected to design buildings that are durable and can last for 100 years or more. (ET)

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