No takers for 10,000 sq ft commercial space at Zero Mile Metro Stn

 

 

 

Traders in Sitabuldi market remain aloof as they feel present footfall on Orange Line does not merit shift from their existing location  

 

The commercial spaces developed at Zero Mile Freedom Park Metro Station are yet to find any takers. The station concourse which was designed to host an array of retail shops shows only empty units. Maharashtra Metro Rail Corporation Ltd (MahaMetro) tried hard to attract shops from the local market, but it seems the traders are not yet interested in shifting their bases for obvious reasons. The metro officials had pitched for development of electronic market and also pitched the idea to traders in nearby Sitabuldi market. Their argument was that present market is quite old and small lanes are deterrent to many a buyers. However, the shopkeepers have not responded to the argument positively yet. 

 

 

A regular commuter commented that the empty shops make the station look inactive and under-utilised, and that the closed units make the concourse feel silent and disconnected from the rest of the station. MahaMetro had invited businesses to take up these units on 9-year licenses, requiring bidders to quote a monthly fee per square meter and pay nine months of fees in advance. Industry observers say that these conditions, along with the small size of many units and their low visibility, could have discouraged bidders. Compared to present location of shops in Sitabuldi market, the main grouse of traders is the lack of visibility from main roads at the metro station concourse. They weighed in pros in shifting to Zero Miles Station concourse, but found it far outweighs the current advantages. The prime reason behind reluctance of trader seems to be limited footfalls at the station as traders said it is most discouraging factor. Compared to current visitors and eye balls that their shops gather being on ground floor in Electronic Market in Sitabuldi, the shops in metro arena are far from attractive.

 

 Metro awaits a suitable investor Official tender records show that bids for Zero Mile station were invited, but the page shows many tenders still in ‘Notice Inviting Tender’ stage itself even after passage of so many months. Meanwhile, the plan for a multi-storied commercial tower above the station through a public-private-partnership (PPP), combining commercial development with parking management, is also stalled, as there are not many investors ready to put in their money. The tender document sets out development of 2,90,000 sq ft above the station with parking and commercial floors via a design-build-finance-operate-transfer model, but no concessionaire has been publicly announced. Though the hospitality industry in city is on upswing, metro still awaits a suitable investor. Top secret deal of 4,000 sq ft An official of MahaMetro said that of the approximate 10,000 sq ft of available area, about 4,000 sq ft has been allotted. However when asked for further details he refused to share the names of the bidders, as if it is a top secret and revealing it might endanger national security. As to allotment of remaining approximately 6,000 sq ft space the officials process is still under discussion stage as officials are trying to find suitable formula for its allotment. In sum, while the station infrastructure is ready and tenders are live for the remaining spaces, many units remain closed and the signature tower project above the station has not moved beyond tendering.