Chennai Metro Embarks On Major Property Development Initiative To Strengthen Connectivity, Non-Fare Revenue Streams

Chennai Metro Rail Limited (CMRL) is reportedly planning to develop properties at MVN Nagar in Thirumangalam, Nandanam, and Thousand Lights as part of its strategy to generate non-fare revenue.

These developments will be directly linked to metro stations, offering seamless access to station entry and exit points, Times of India reported.

A contract has been signed for the preparation of a Detailed Project Report (DPR), which includes a feasibility study, market analysis, transactional advice, concept plans, and a land use report.

The agreement will also involve submission of these documents to the Chennai Metropolitan Development Authority (CMDA) and the Greater Chennai Corporation (GCC) for approval, cost estimation, and tender documents.

The contract for this work has been awarded to a joint venture between Aarvee Associates Architects Engineers and Consultants and ANAROCK Property Consultants at a cost of Rs 41.87 lakh.

The letter of acceptance (LOA) was issued on 20 December, and the DPR is expected to be completed by March 2025.

The property development at MVN Nagar in Thirumangalam will be closely integrated with the new metro station, ensuring smooth connectivity.

In Nandanam, the project will be located near the existing metro station and opposite the metro administration building.

At Thousand Lights, the developments will connect to both Phase 1 and Phase 2 stations, improving convenience for commuters and enhancing overall connectivity in the area.

These developments are a part of CMRL’s broader plan to generate non-fare revenue while simultaneously improving the accessibility and efficiency of the city’s metro network.

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