UP Metro Rail Corporation (UPMRC) will soon start developing its property on the land given by the LDA in CG City in Lucknow. On the orders of the government, the process of selection of consultant architect has begun for the development of the assets on the 86.83 acres of land received from LDA.
According to the officials, the plan is to develop both residential and commercial properties in this patch of land. These properties will be developed in such a way that maximum income is generated for UPMRC.
The property of CG City is very important for Lucknow Metro to meet commercial viability, so that they do not have to increase passenger fare, said an official of Lucknow Metro.
He said, “Metro does not want to overburden the passengers by increasing the rates of tickets. The idea is to keep the fares minimum so that maximum passengers are attracted towards Metro. The income generated from this 86 acres of land could be used for keeping the fares low. On this land of Metro, commercial and residential properties will be constructed.”
At present, Metro runs between 21 stations at a distance of 22.8 km from Airport to Munshi Pulia in the capital. The fare has not been revised since the commencement of commercial run. However, there is constant pressure to increase fares. Keeping this in view, UPMRC is trying to generate income from different sources.
Meanwhile, the selection process of the land is expected to be completed next month. After this, the work of making project design and DPR will start. Metro plans to start the construction work on the 86 acres of land in 2024.
An official of the UPMRC said that the technical bid for the process of selection of the consultant is expected to be opened on January 3 next year. After this, the company will be finalised by fixing the date of the financial bid. The work of this company will be to identify investors, and apart from giving advice for the development of the property, the company will also assist in conducting the tender process at the time of construction.
