On February 06, 2025, Chennai Metro Rail Limited has signed a Contract Agreement for the Preparation of a detailed project Report for property development at MVN Nagar in Thirumangalam, Nandanam, and Thousand Lights in CMRL Phase 2 stations.
The Contract has been awarded to the consulting firm, a Joint Venture between M/s Aarvee Associates Architects Engineers & Consultants Pvt Ltd and M/s ANAROCK Property Consultants Pvt Ltd at a cost of Rs. 41.87 Lakhs (excluding GST). The Letter of Acceptance (LOA) was issued to the Joint Venture consulting firm on December 20, 2024.
In the presence of Thiru. T. Archunan, Director (Projects), the Contract Agreement was signed by Tmt. Rekha Prakash, CGM (P&D) on behalf of CMRL and by Tmt. J.K. Nandana, Associate Vice President, on behalf of M/s Aarvee Associates, along with Thiru. S. Vinoth, Vice President of M/s ANAROCK Property Consultants Pvt Ltd. Senior officials of CMRL and the Consultant were present during the occasion.
Contracts Scope Of Work
The contract includes the Preparation of detailed project Report, Feasibility Study, Market analysis, Transactional advice, Concept plans, and Land use report etc including submission of documents to CMDA/GCC for approval, preparation of Cost Estimate and Tender Documents for property development at MVN Nagar in Thirumangalam, Nandanam and Thousand Lights February 06, 2025: Chennai Metro Rail Limited has signed a Contract Agreement for the Preparation of Detail Project Report for property development at MVN Nagar in Thirumangalam, Nandanam, and Thousand Lights in CMRL Phase 2 stations
CMRL’s Vision
CMRL has planned for non-fare revenue generation along with fare revenue by integrating the property development along with the metro stations at MVN Nagar in Thirumangalam, Nandanam, and Thousand Lights. The property development at MVN Nagar will be seamlessly connected to the entry and exits of the upcoming Thirumangalam Metro station.
At Nandanam the property developments are conveniently situated near the existing metro station and opposite to MetroS, Admin Building. The Thousand Lights metro station will incorporate property developments linked to both Phase 1 and Phase 2 stations, providing enhanced connectivity and convenience. The final DPR is expected to be completed by March 2025.
