The Mumbai Metropolitan Region Development Authority (MMRDA) is eyeing more than Rs 200 crore revenue by doling-out advertisement rights to companies on its 18 skywalks, across the metropolis.
"We expect to garner over Rs 200 crore from advertisements displayed on the 18 skywalks," a senior MMRDA official told PTI here today.
The authority has recently invited bids from interested parties for displaying advertisements on these skywalks.
The skywalks at Bandra (three), Santacruz, Borivali (West), Kandivali East, Dahisar (two), Mira Road East, Bhandup West, Ghatkopar West, Ulhasnagar West, Virar West, Vasai Road West, Badlapur East, Badlapur West, Kalyan West and Kanjurmarg will be made available for advertising.
"The winning bidder will have to pay the maximum quoted price up-front to MMRDA in five equal annual installments at the beginning of each financial year," the official said.
The authority plans to utilise these funds for providing security and upkeep of these skywalks, he added.
"The revenue generated from the advertisement rights will be used for maintenance of the skywalks, which includes installing CCTVs, illumination, etc. Instead of earmarking some funds in the budget, the income earned from the advertisements will be utilised for regular maintenance," he said.
In all, the authority has planned to construct 50 skywalks in the metropolis.
