CHENNAI: Chennai Metro Rail Limited (CMRL) has planned property development at MVN Nagar in Thirumangalam, Nandanam and Thousand Lights as part of its non-fare revenue generation strategy.
The developments will be integrated with metro stations, providing seamless connectivity to entry and exit points.
A contract agreement has been signed for the preparation of detailed project report (DPR), feasibility study, market analysis, transactional advice, concept plans, and land use report, including submission to the Chennai Metropolitan Development Authority and the Greater Chennai Corporation (GCC) for approval, cost estimate and tender documents.
The contract has been awarded to a joint venture between Aarvee Associates Architects Engineers & Consultants and ANAROCK Property Consultants at a cost of Rs 41.87 lakh. The letter of acceptance (LOA) was issued on Dec 20, and the DPR is expected to be completed by March 2025.
At MVN Nagar in Thirumangalam, the property development will be seamlessly connected to the entry and exits of the upcoming metro station.
In Nandanam, the developments are situated near the existing metro station and opposite metro admin building. At Thousand Lights, the property developments will be linked to both phase 1 and phase 2 stations, ensuring enhanced connectivity and convenience.