CHENNAI: Chennai Metro Rail is hopes to earn Rs 3,000 crore in its first year of operation after the first phase of construction ends in 2015. Ticket sales alone are expected to bring in Rs 2,760 crore, a document prepared by the agency says. The projection is based on the assumption that the trains will run to their full capacities.
According to a fare structure adopted to gauge the financial viability of the project, Rs 8 will be charged for a distance of two kilometres and Rs 23 for 27 kilometres and beyond. The actual fare structure would be finalised closer to completion in 2013 and 2015, said an official.
Sources said that Metro Rail would undertake property development at stations. In many cases, Metro Rail will purchase pieces of land land and develop them, either on its own or through joint ventures, to be rented or leased out for shops and other establishments. The agency has estimated to spend Rs 1,136 crore on acquisition and development of land.
Metro Rail will also earn by leasing of parking rights at stations, advertisements on trains and tickets, advertisements within stations and parking lots, on viaducts, columns and other metro structures. Metro Rail will offer co-branding rights to corporates and allow film shootings and such events on metro premises, said a Metro Rail official. All these could earn up to 10% of the ticket sales, the study has found. "The idea would work because metro stations are going to be huge structures. And, unlike the MRTS stations, these are going to be located along the busiest of the roads – Anna Salai and Poonamalee High road and 100 Feet road," said an official. It is hoped that metro stations will not go the MRTS way where gigantic stations remain empty and deserted. Traffic studies mentioned in the project report says that Metro would experience 7.74 lakh passenger trips per day in 2016 and 12.85 lakh passenger trips per day in 2026.
To attract more commuters, Metro Rail will push for feeder bus services to connect all metro stations. The corridors are designed in such a way that all passenger hubs – railways stations, bus stands, moffusil bus stands and airport — will be connected by the metro corridor in the first phase which will be ready by 2015.
Source: Rs 3,000 crore: What Metro Rail hopes to earn in the 1st year - The Times of India http://timesofindia.indiatimes.com/city/chennai/Rs-3000-crore-What-Metro-Rail-hopes-to-earn-in-the-1st-year/articleshow/7429533.cms#ixzz1DFf85MZj
According to a fare structure adopted to gauge the financial viability of the project, Rs 8 will be charged for a distance of two kilometres and Rs 23 for 27 kilometres and beyond. The actual fare structure would be finalised closer to completion in 2013 and 2015, said an official.
Sources said that Metro Rail would undertake property development at stations. In many cases, Metro Rail will purchase pieces of land land and develop them, either on its own or through joint ventures, to be rented or leased out for shops and other establishments. The agency has estimated to spend Rs 1,136 crore on acquisition and development of land.
Metro Rail will also earn by leasing of parking rights at stations, advertisements on trains and tickets, advertisements within stations and parking lots, on viaducts, columns and other metro structures. Metro Rail will offer co-branding rights to corporates and allow film shootings and such events on metro premises, said a Metro Rail official. All these could earn up to 10% of the ticket sales, the study has found. "The idea would work because metro stations are going to be huge structures. And, unlike the MRTS stations, these are going to be located along the busiest of the roads – Anna Salai and Poonamalee High road and 100 Feet road," said an official. It is hoped that metro stations will not go the MRTS way where gigantic stations remain empty and deserted. Traffic studies mentioned in the project report says that Metro would experience 7.74 lakh passenger trips per day in 2016 and 12.85 lakh passenger trips per day in 2026.
To attract more commuters, Metro Rail will push for feeder bus services to connect all metro stations. The corridors are designed in such a way that all passenger hubs – railways stations, bus stands, moffusil bus stands and airport — will be connected by the metro corridor in the first phase which will be ready by 2015.
Source: Rs 3,000 crore: What Metro Rail hopes to earn in the 1st year - The Times of India http://timesofindia.indiatimes.com/city/chennai/Rs-3000-crore-What-Metro-Rail-hopes-to-earn-in-the-1st-year/articleshow/7429533.cms#ixzz1DFf85MZj
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