GCC to lease Chennai Port Trust land at Rs 3.86 crore for Broadway bus terminus

CHENNAI: As the Chennai Corporation decided to shift Broadway bus terminus to Chennai Port Trust land, the council on Monday adopted a resolution to pay the necessary lease amount as determined by the Port Trust for the function of the bus terminus for three years.

Initially, the Broadway bus terminus was planned to be shifted to Island grounds maintained by CMDA, but as the government agency was carrying out developmental works, the temporary terminus was relocated to Royapuram.

In September, the GCC commissioner had written to the chairman of Chennai Port Trust asking to allocate the 3.5 acre land located at Ibrahim Road near Royapuram bridge for a period of three years on a lease basis to shift MTC buses from Broadway bus terminus, which would benefit the public.

The total area is 14,014 sq m and the value per sq m is Rs 230. The rent for a year would be Rs 3.86 crore and every year the rent amount will be increased by 2 per cent, noted a letter from Chennai Port Trust. The council has passed the resolution to lease the required land.

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In addition, the Chennai Metro Rail Limited is undertaking the work to establish a multi-modal transportation bus terminal complex with integrated facilities at the Broadway bus terminus on a budget of Rs 822.70 crore. The Chennai Corporation will receive Rs 506.83 crore as a time-bound loan from the Tamil Nadu Urban Infrastructure and Finance Development Corporation for development.

Meanwhile, the civic body has identified a spot at the Egmore Museum to install a statue of Sir John Hubert Marshall, who showcased civilizations. The council has passed a resolution and a no-objection certificate has been issued to the Chennai District Collector.