CMRL’s initiative for property development near stations
Posted on: 03/May/2014 5:07:58 PM
With the metro rail construction work along Koyambedu and Alandur on the go, the Chennai Metro Rail Limited (CMRL) has made an initiative to integrate property development near stations. Though there is no enough space for such constructions, the department has planned to make maximum possible utility of available area. This will be used for property development and parking lots. One such initiative by officials at CMRL is their call for tenders for constructing a commercial space with 4 floors above station.
Speaking to a CMRL official, he said the space will be given for rent to offices and retail outlets. The department consultants will give necessary recommendations about using the space. In addition to Ashok Nagar, places including Alandur, SIDCO and Arumbakkam will soon receive similar constructions, he added.
This initiative is expected to raise revenue to the department. The estimate of the property construction project is Rs 1136 crore.
