“The complex will be connected to Sitabuldi Interchange Metro station by a foot overbridge (FOB). The operator will be given four years for completing the project and concession period will be 60 years, including the construction period,” a release by MahaMetro stated.
The operator will be providing parking lots for four-wheelers, two-wheelers and bicycles in the complex as mandated by development control rules (DCR). “In addition, he will have to provide an extra parking space for 100 cars and two-wheelers each,” the release added.
According to MahaMetro officials, the land area is 19,890 square meters and the use is commercial. “The permissible floor to space index (FSI) is 2.5, but can go up to 4 under transit oriented development (TOD) policy, subject to payment of a premium. The private operator will have to spare 15% of the land as open space. The maximum constructed area possible on this site is 5.25 lakh square feet,” they stated.
MahaMetro is also developing an exclusive consumer electronic goods market at the concourse level of the under-construction Zero Mile Freedom Park station. Fifteen shops are being constructed having an area between 8.75 square meters and 13.28 square meters, for which the lease period will be of nine years.
The agency has also floated tenders for leasing out 17 commercial spaces having area between 17.34 square meters to 89.35 square meters at various stations of Reach I (Sitabuldi Interchange to Khapri) and Reach III (Sitabuldi Interchange to Lokmanya Nagar). “The lease period for these shops will also be 9 years. The spaces are located at Khapri, Airport, Rahate Colony, Bansi Nagar, Vasudev Nagar, Rachna Ring Road and LAD Square Metro stations,” the release stated.