Chennai Metro Rail inks property development contract for 5 stations
Per an official release, the contract has been awarded to M/s. Jones Lang Lasalle Property Consultants India Private Limited for a value of Rs 67.2 lakh.
DTNEXT Bureau
Chennai Metro Rail Limited (CMRL) signed a contract on Thursday (Photo: X-@cmrlofficial)
CHENNAI: The Chennai Metro Rail Limited (CMRL) signed a contract on Thursday for the preparation of Detailed Project Report (DPR) for the property development in Alandur, Alapakkam Junction, Boat Club, Nandanam and Wimco Nagar Depot in both phase I and II lines.
Per an official release, the contract has been awarded to M/s. Jones Lang Lasalle Property Consultants India Private Limited for a value of Rs 67.2 lakh. The Letter of Acceptance (LOA) was issued on October 28 and the final DPR will be available in 150 days from the LOA.
CMRL has planned for non-fare revenue generation along with fare revenue by integrating the property development (PD) along with the metro stations at Alandur, Alapakkam, Nandanam, Boat Club and Wimco Nagar Depot.
"Alapakkam PD is integrated with the entry/exits of the phase II station through foot over bridge (FOB). Nandanam PD will be integrated with the upcoming underground station. Alandur PD will be integrated with phase 1 and phase 2 metro stations," stated CMRL press note.
Meanwhile, the Wimco Nagar depot station will entail eight floors of property development above the existing Metro building.
