BMRCL is getting proposals from developers for direct access to stations.

Property developers and land holders whose properties abut metro lines in Phase 2 are eyeing to boost their prospects by seeking direct access to stations.

Direct access would mean, for property developers, a higher return on investment as they can demand a premium from buyers looking for easy access to the metro in a city beset with traffic problems.

“There is definitely a lot of scope for the Public Private Partnership (PPP) model. When commercial interests come into play, timely completion of projects becomes an important factor. Currently, there is no model available for companies to work with BMRCL. There is a lot of opportunity for everyone to participate,” said Suresh Hari, General Secretary of the builder’s association, CREDAI.

Chartered Housing CEO Bimal Hegde agreed. “The current permissible Floor Area Ratio (FAR) to build within a stipulated radius of a metro station is higher than usual. Such incentives will definitely help good developments like parking, retail and commercial spaces around metro stations,” he said.

Guidelines for PPP



As BMRCL is readying for launch of Phase 2, it is besieged with a number of such PPP proposals prompting the company to lay down draft guidelines to streamline and select some for execution. The guidelines will be discussed in the coming week before being placed before the High Powered Committee for the metro project.

Till now, metro authorities were uncertain of the process for fixing the amount to be paid by private parties for availing its facilities. It was then decided to frame guidelines to enable private developers to invest resources in Namma Metro and benefit from the same.

“The draft guidelines have to be discussed. This is an initial idea and access to metro facilities through walkways or other means is the major reason this exercise is being taken up,” said BMRCL Managing Director Pradeep Singh Kharola. However, he made it clear that realignment of lines or relocation of stations would not be considered.

The first PPP

In 2009, BMRCL had for the first time in its history entered into a PPP model with Mantri Developers to develop the Swastik Metro Station near Mantri Mall in Malleswaram. The move, which eventually led to direct access to the metro Station from the mall, was questioned in the High Court by means of a PIL.