Delhi stadium rentals cut by 40-50% to make city hub for concerts, cultural events

New Delhi: Delhi Minister for Art, Culture, Languages and Tourism Kapil Mishra on Saturday said the reduction in stadium-booking charges is a "historic step" in turning the capital into a hub for live events and concerts.

The Sports Authority of India (SAI) has announced a cut of about 40 to 50 per cent in the booking charges of major stadiums in the city.

According to a statement, the move, taken jointly by the Union Ministry of Youth Affairs and Sports and the Delhi government, is expected to make the national capital more attractive for large-scale cultural shows and international events.

Calling it a major step towards making Delhi the most event-friendly city in the country, Mishra said the decision would help transform the capital into a global hub for live entertainment and concert economy.

He said the initiative is in line with the vision of Prime Minister Narendra Modi.

"The prime minister's vision is to make Delhi a hub for live events and concert economy. One of the major obstacles was the high booking rates of stadiums, which led to large events being organised outside Delhi, in cities like Ahmedabad, Mumbai, Gurugram and Noida," he said.

After extensive discussions with Union minister Mansukh Mandaviya and two roundtable meetings with the industry, the "historic" decision was taken on Saturday, Mishra said.

Officials said the revised stadium rates would give new momentum to national and international live events and concerts in the city.

On September 2, Mishra met Mandaviya to discuss advancing the vision of making Delhi a global event hub. Senior representatives from the Event and Entertainment Management Association (EEMA) and the PHD Chamber of Commerce and Industry (PHDCCI) also participated in the meeting.

The discussions focussed on reducing the rental rates of major stadiums and simplifying event procedures.

Mandaviya promised that all necessary measures would be taken to make Delhi a global centre for cultural activities and live entertainment, the statement said.

Industry leaders, including Rajeev Jain (PHDCCI), Ankur Kalra (EEMA), Sabbas Joseph (Wizcraft), Anil Makhija (BookMyShow) and Karan (Zomato), welcomed the government's decision and called it historic for Delhi, according to the statement.

Mishra said the decision will not only promote cultural and tourism activities in the capital but also increase employment opportunities and economic growth.