DMRC refers to government guidelines for defer rental payments
By M4G Bureau - July 06, 2020
The metro authority shows support towards tenants but the final decision will take time as pandemic continues
Delhi Metro Rail Corporation (DMRC), the largest metro network of the country, is looking at government guidelines on deferred rental payments from their various tenants, running businesses in the metro premises. This is because the metro has been shut since the lockdown began at the end of March.
In conversation with a national daily newspaper, Mangu Singh, DMRC, Managing Director, said that the tenants have been writing them to defer rental payments for which the corporation is looking at the government guidelines. But the final decision will take time as the pandemic is still not over. He shared that the corporation does not have a revenue-share model with their tenants.
Singh explains the corporation has been hit by the pandemic with zero earning. However, he agrees that the tenants have also been affected badly and DMRC has to support them at this hour. If the corporation takes any strict action against them, the tenants might surrender their contracts.
Along with tenants, the other metro networks of India too are eyeing on the decision to be taken by the DMRC.
Media4Growth finds out that the corporation has formed a committee to work on the defer rental payments. However, the media owners, running contracts for advertising inside and outside the premises of the metro and facing 100% revenue loss, are worried as there is still no clarity on when the transportation lifeline of the capital will be allowed to restart operations.