Chennai (Metro Rail News): Chennai Metro Rail Limited (CMRL) has signed a contract for the development of the Detailed Project Report (DPR) for property development at several locations in Phase 1 and Phase 2 of the Chennai metro network.
Contract Information
CMRL awarded this contract to M/s. Jones Lang Lasalle Property Consultants India Pvt. Ltd at Rs. 67.2 lakhs (excluding GST). The Letter of Acceptance (LOA) for the contract was issued on 28th October 2024.
Deadline: The final DPR is expected to be completed within 150 days from the date of the LOA.
The scope of work for the contract includes the development of the Detailed Project Report (DPR), feasibility study, market analysis, transactional advice, concept plans, and land use report.
Additionally, it involves the submission of necessary documents to the Chennai Metropolitan Development Authority (CMDA) and Greater Chennai Corporation (GCC) for approval, as well as the preparation of cost estimates and tender documents for the property development projects at:
- Alandur,
- Alapakkam Junction,
- Boat Club,
- Nandanam,
- Wimco Nagar Depot.
Non-Fare Revenue Strategy of Chennai Metro Rail
CMRL plans to generate non-fare revenue alongside fare revenue by integrating property development with metro stations at key locations, including Alandur, Alapakkam, Nandanam, Boat Club, and Wimco Nagar Depot.
The property development at Alapakkam will be connected to the Phase 2 station entry/exit via a Foot Over Bridge (FOB). At Nandanam, the property development will be integrated with the upcoming Phase 2 underground station. Alandur’s property development will connect to both Phase 1 and Phase 2 metro stations. Additionally, the Wimco Nagar Depot station will feature eight floors of property development above the existing metro building.
