NEW DELHI (Metro Rail News): In an announcement on Sunday (July 12), the Union Minister of Housing and Urban Affairs, ML Khattar proposed that air spaces above Delhi Metro should be utilized for residential buildings. The announcement was made during the minister’s speech at the Central Public Works Department (CPWD)’s 172nd foundation day.
The minister said that “The use of air spaces for housing purposes is a new thing that many countries are implementing”. He referred to a hotel in Gandhinagar which is developed above a metro station as an example for the proposal. He said that a similar project is being thought about for Delhi.
Khattar further said that he has sought Delhi Development Authority (DDA) to find ways to implement the project. Moreover, he also encouraged CPWD to work on the project and find ways to utilize linear projects for air spaces.
The Benefits of the Proposal
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The minister said that if we use the air spaces by developing pillars on the sides, then the project could be implemented at a low cost. He said that people will get affordable housing and the metro will also be benefited with this proposal.
It can become a major source of non-fare revenue for the metro system. The step can boost the revenue of Delhi Metro and bring the possibilities of attaining financial sustainability through the proposed property model. The project can also be impactful in the housing and congestion issues in the region. A global counterpart of Delhi Metro, the Hong Kong Metro system has shown remarkable growth through its property model.
Hong Kong MTR’s “Rail+Property” model
The Hong Kong Mass Transit Railway (MTR)’s “Rail+Property” model is well-known for its financial sustainability. The metro stays in profit and a major reason behind that is the proportion of revenue it generates from real estate. MTR manages several properties above their metro stations and depots.
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