Chennai Metro Rail Limited (CMRL) has signed a contract for developing detailed project report (DPR) for real estate development at various locations in Phase 1 and Phase 2 of the Chennai Metro Network.
Contract information
CMRL has awarded this contract to SM. Jones Lang Lasalle Real Estate Consultants India Pvt. Ltd to Rs. 67.2 lakhs (excluding GST). The Letter of Acceptance (LOA) of the contract was issued on October 28, 2024.
Expiration: It is expected that the final DPR will be completed within 150 days from the date of the LOA.
The scope of work of the contract includes the development of the detailed project report (DPR), feasibility study, market analysis, transactional consultancy, conceptual plans and land use report.
It also involves submitting necessary documents to the Chennai Metropolitan Development Authority (CMDA) and Greater Chennai Corporation (GCC) for approval as well as preparing cost estimates and tender documents for real estate development projects at:
- Aland,
- Alapakkam Junction,
- Nautical club,
- Nandanam,
- Wimco Nagar Depot.
Chennai Metro Rail Non-Fare Revenue Strategy
CMRL plans to generate non-fare revenue along with fare revenue by integrating real estate development with metro stations at key locations, including Alandur, Alapakkam, Nandanam, Boat Club and Wimco Nagar Depot.
Real estate development a Alapakkam will be linked to Phase 2 station entry/exit via a Foot Over Bridge (FOB). TO Nandanamthe real estate development will be integrated with the upcoming Phase 2 metro station. The Alandur real estate development will connect to both Phase 1 and Phase 2 metro stations. Additionally, the Wimco Nagar Depot station will feature eight floors of real estate development above the existing subway building.
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