New revenue source for Thane’s housing societies
May 2025
Elevators are basically a good means for vertical movement; but it requires regular expenses on its running – something that Thane’s housing societies know all too well!
Think of the situation where the elevator starts generating revenue for the housing society. One way for indirect revenue generation is to go for a regenerative system for elevators. The system helps to generate energy during situations like the empty elevator going up or a fully loaded elevator coming down.
This is not direct revenue generation but certainly revenue saving can be considered as revenue generation. Another way is to use an elevator lobby and elevator cabin for advertisements and society can earn money.
Let us understand the people, using an elevator in a housing society building in Thane.
The average is that passengers spend more time on the ground floor or lobby as compared to the actual travel time in the elevator. The waiting time at the ground floor is generally around 60 -90 seconds or even more. Whereas the travel time inside an elevator is hardly 30-40 seconds; out of which 10-15 seconds are utilised in pressing the call button and getting settled in the elevator cabin. So, the actual available time for a person to view any advertisement or message during his travel is hardly 20-25 seconds.
The type of user and their movement is different in residential and commercial premises. In the residential buildings the occupant generally moves out in the morning and comes back in the evening. The passengers are generally the same all the days, except occasional visits of some guests or other outside agencies
In residential buildings the advertisement about regular consumables items is more effective. Where in commercial buildings advertisements about properties, share market, insurance, deposit schemes and important news flashes are more preferred. LED/LCD display units which can be installed inside the elevator cabin or at the ground floor near the elevator entrance are easily available now in the market. The initial investment required for any LED/LCD display system for an elevator may cost around one lakh or more depending upon the screen size.
The advertising cost may start ranging from Rs.1,000/ to Rs.50,000/ sq. ft/month depending upon the location and the number and type of users/visitors.
The investment made on such display systems can be easily recovered in just one or two years only. The scenario in Thane is that the advertising companies install the display system themselves without any charges payable by society. In some situations, they also pay monthly rent to the society for installing their display systems.
It is logical, and I too think that this is the best source of generating additional income from a housing society’s elevators without having any nuisance, radiation or much power consumption.
~ Mr.Rajnikant Lad
Elevator Auditor. Chairman - Building Transportation Safety
Source: Thane Realty News
To Know About Thane Real Estate Development Contact Us at 09833458323
