Latest news with #RapidMetro
Time of India
15-05-2025
- Business
- Time of India
More riders for Rapid Metro, but its losses mounting too
Gurgaon: Though Rapid Metro's ridership and revenue have risen in 2024-25, so have its expenses – retaining the venture as a loss-making operation, official data shows. According to Haryana Mass Rapid Transport Corporation Limited ( HMRTC ), the agency that oversees all metro projects in the state, ridership of the Rapid Metro went up from almost 1.5 crore in 2023-24 to 1.7 crore in 2024-25, an increase of 13.6% over the year. Monthly ridership figures also saw a steady upward trend, which shows that more commuters are opting for the metro line, an official said on Thursday. This increase may be a result of several factors such as high fuel costs, which may deter some motorists from using their vehicles, along with inadequate bus connectivity and frequent traffic jams on roads. Consequently, HMRTC's revenue from Rapid Metro fares has also increased by 14.7%, from Rs 30.6 crore in 2023-24 to Rs 35 crore in 2024-25. But, data shows, this increase in passenger count and revenue from fares was not enough to offset costs of operating and maintaining the metro line, which runs almost along the entire of Golf Course Road and loops from Cyber City. HMRTC's expenses, after accounting for operational costs and other spends, increased 15.3%, from Rs 23.9 crore to Rs 29.2 crore, primarily due to maintenance, energy costs, and staff salaries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo This pushed the net loss from Rs 19.4 crore to Rs 23 crore in the fiscal years. "The increase in ridership and fare revenue shows the growing reliance on Rapid Metro. We saw a consistent increase in footfall across all months last fiscal year. However, operational expenses also went up. The expansion of the metro network will act as a catalyst for further ridership growth and boost the overall viability of Gurgaon's transit infrastructure," said Dr Chandrashekhar Khare, managing director of HMRTC and Gurugram Metro Rail Ltd. Currently, the Rapid Metro network spans 11.7km, and has an interchange facility with Delhi Metro's Yellow Line at the Sikanderpur station. Tenders for the first section of the new metro corridor in Gurgaon, which will link Millennium City Centre and Cyber City, have been floated and eight companies have shown interest. Construction of this metro line is expected to further increase ridership for Rapid Metro, which will be linked to this corridor at the Cyber City station. "The construction of the first phase of the new metro line will start soon. The tender has been opened, and after evaluating technical and financial bids, the project will be awarded. From next month, metro construction work will begin on the ground," said Khare. The winning bidder will construct a 15.2km section of the new corridor, with 14 elevated stations, including a spur to Dwarka Expressway. Key stations in this phase of construction include Millennium City Centre, Subhash Chowk, Hero Honda Chowk and Sector 101 along the Dwarka Expressway. The second phase of the new corridor will cover the remaining 13.3km from Sector 9 to Cyber City.
Time Business News
01-05-2025
- Business
- Time Business News
What Makes Gurugram A Preferred Choice Among High-End Buyers For Luxury Homes?
With state-of-the-art infrastructure and superior luxury residential projects, coupled with proximity to major business centers, this town has turned out to be the most popular destination of all in the National Capital Region (NCR) for luxury homes that is Gurugram, the Growing Hub of Township as well as residence in India around The NCR. Primarily among the several reasons for which Gurugram certainly stands out is its strategic location. The location is next to Delhi, with marvelous accessibility by way of different routes including Delhi-Gurugram expressway, Golf Course Road, and the emerging Dwarka Expressway. All these routes not only facilitate seamless daily commuting but also provide access for the residents to the Indira Gandhi International Airport and other business hubs. Furthermore, the metro transport system, which includes the Rapid Metro and proposed metro lines under the Gurugram Metro Rail Project, adds to the accessibility of the city-living style with a classic touch. Modern-day Gurugram is contemporary urban planning with wide roads and planned sectors, along with reliable utilities: a solid pillar and enhanced living. Luxury housing projects within the city offer all sorts of world-class amenities, such as temperature-controlled pools, landscaped sky gardens, smart home automation, private elevators, and superior security systems. Residential sectors such as Sector 42, 54, 65, 70A, and 113 are widely known for luxurious tall buildings and gated communities that are becoming comparable to global standards as Accomplished by Builders like Ameya Group. These homes are largely designed by world-renowned architects with tailored interior solutions that appeal to NRIs, businesspersons, and professionals alike. It has become the commercial capital of North India, housing thousands of multinational corporations, financial institutions, and IT firms. Some key commercial areas include Cyber City, Udyog Vihar, and Golf Course Extension Road. This is where premium residential buildings lie to enrich the lives of high-earning professionals with that work-life balance creeping in. The importance of living close to one's workplace saves time and beautifies an overall lifestyle, hence the preference of most top executives and entrepreneurs are for Gurugram as their primary or secondary residence. It has infrastructure for living and lifestyle rather than working and connectivity. City boasts of world-class educational institutions, super-specialty hospitals, international schools, fine-dining restaurants, luxury malls, golf courses, and art galleries. Thus, it offers an affluent environment in which not only homes are luxurious but also every aspect of daily life and living. Golf Course Roads and MG roads have become synonymous with affluence. The locations offer a great blend of commercial and residential slants appealing to the elite class. Gurugram's emergence as a luxury real estate market is not a fluke-it is essentially the establishment of a platform that intensively invests in infrastructure development and visionary real estate planning. Among the developers who are shaping the premium landscape of the city, one who has been actively working is Ameya in building high-quality, well-located homes and commercial projects. Ameya Projects has a robust reputation as far as innovativeness, transparency, and timely delivery are concerned. Therefore, the company continues to contribute to Gurugram's communion with the psyche of luxury homebuyers who are looking for long-term value and sophistication in living. TIME BUSINESS NEWS
