Western Railway is putting up a prime parcel of land, a late 19th century parcel depot located in Grant Road, for renovation, utilisation and operation by a private party for five years. It is offering this 2,058.25 sq metres plot – which is among the oldest parcel depots, built in 1890 – to private businesses. For the past many years now, this depot has not been used. Hit by falling revenue amid the pandemic, the Railways is looking at non-fare revenue models to generate additional revenue.
The space, spanning over half-an-acre in the heart of south Mumbai is expected to rake in some revenue for the rail authorities in this pandemic times. The reserve price they are asking for is Rs 4.83 crore per annum, with escalation of seven per cent in subsequent years.
“We expect to earn Rs 27.82 crore in five years. This parcel depot will be beneficial for business houses and businesses in the vicinity, as it is a large open space and has a covered shed that can be used for offices, stacking, storage, sorting and parking. We have called tenders for the same which close on June 10,” said a WR official on condition of anonymity.
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