BMRCL scouts financers to fund stattions' redevelopment
The Bangalore Metro Rail Corporation is currently aggressively wooing corporates to fund its stations redevelopment projects. The sources said the corporation is considering a new station at Jakkur plantation and currently negotiating with realty firm Century Group, which will fund the station. Similarly, KIA Metro civil work between KR Puram and Kempegowda International Airport is expected to be ready by 2025 by adopting a similar model. Likewise, BMRCL is also negotiating with Bagmane Tech Park (DRDO station and ISRO station on Outer Ring Road Metro) and Indian Oil Corporation (KR Puram/Mahadevapura station on Byappanahalli-Whitefield Metro). Bagmane Tech Park has also proposed a monorail service from SV Road Metro station on the Purple Line to DRDO Metro station on ORR. BMRCL is generating funds by implementing innovative financing schemes where corporates have been involved to augment funding as BMRCL offers a basic set of rights for corporates for 30 years. This includes naming rights (₹65 crore), 1,000 sqft inside the station for advertisement and 3,000 sqft inside the station for commercial purposes (₹25 crore) and direct access/connectivity to the walkway (₹10crore). BMRCL has so far signed agreements/MoUs with companies such as Embassy Property Developments Pvt Ltd (Kadubeesanahalli station: ₹100 crore), Intel Technology India Pvt Ltd (Bellandur station: ₹100 crore), Prestige Exora Business Park (Kodibeesanahalli station: ₹100 crore) and Embassy Property Developments Pvt Ltd. (Bettahalasuru station: ₹140 Crore). Similarly, it signed an agreement with Infosys Ltd (Konappana Agrahara station: ₹100 crore) and Biocon Ltd for Hebbagodi station (only naming rights) for ₹65 crore. Manyata Promoters has been provided 3,000sqm for realignment of Metro line worth ₹32 crore for Veeranna Palya station.
