CMRL awards tender for property development near Saidapet Metro

CHENNAI: For the property development at the spaces around Saidapet Metro station, the Chennai Metro Rail Limited (CMRL) has signed a contract worth Rs 33 crore to B and B Developers and Builders.

As per CMRL press note, a contract agreement for property development for integrated land parcels at Saidapet Metro station in corridor 1 of phase I was signed recently, and the letter of acceptance (LOA) was issued to the contractor in October.

The property development is part of non-fare revenue generation along with fare revenue. “Several Metro station areas have been identified with potential for development of commercial spaces. And, the tender for property development near Saidapet Metro station is one among the many signed for the construction of a commercial complex. CMRL is planning many such developments to increase non-fare box revenue,” the press note added.