DELHI (Metro Rail News): Spirit Infrastructure Pvt. Ltd. has been awarded a Letter of Acceptance (LoA) by the Delhi Metro Rail Corporation Ltd. (DMRC) for the property development at Badkal Mor Metro Station (Line-6 Extension). The DMRC had invited a Request for Proposal (RFP) for the same in November last year under Tender Reference Number CPD-76R1.
The proposed development is situated at the Line-6 Extension of Phase-III of the Delhi MRTS Project, and Badkal Mor is an elevated metro station that lies close to the Delhi-Agra highway (NH-2). The DMRC plans to develop retail and commercial space on the ground and concourse floors of the station for specified purposes as outlined in the RFP document.
The space will be leased out for a period of 15 years, with an upfront fee of INR 2,22,00,000/- and a quoted lease fee of INR 401/- per square metre per month.
The project site’s location in the commercial sector of Faridabad presents excellent potential for it to become an important commercial hub in the area, with separate access available for commercial areas, prominent and spacious frontage, and a captive commuter base, presenting unique opportunities for retailers.
The document outlines the scope of work for the Lessee, who is responsible for financing, constructing, procuring, managing, operating, and maintaining the leased area. The Lessee must follow the activities permitted by the local authority and the Master Plan of Delhi. Various activities and facilities are allowed in the leased space, including shopping complexes, offices, restaurants, and educational institutes. The Lessee must comply with all applicable laws and adhere to building codes and standards while designing and developing the leased area. The Lessee must obtain DMRC‘s written approval before obtaining approval from any other competent authority. The Lessee is responsible for its fire-fighting arrangements, and parking facilities are subject to availability.
