Broadway Bus Terminus to Become Multi-Modal Facility with New ₹823 Crore Plan!
The Tamil Nadu government has revised its plans for the Broadway bus terminus, transforming it into a Multi-Modal Facility Complex (MMFC). Chief Minister MK Stalin has approved the updated project, which will feature a 10-story building including a bus terminus for 1,100 services, parking for nearly 500 cars and 800 two-wheelers, and a shopping mall, all at a total cost of ₹823 crore.
As part of the MMFC, the Kuralagam building in Esplanade, owned by the Tamil Nadu Khadi and Village Industries Board, will also be incorporated into the project. The Chennai Metro Rail Limited (CMRL) is acting as a consultant for the development.
A new entity, `Chennai Metro Asset Management Limited` (CMAML), will be established to oversee the implementation, operation, and maintenance of the MMFC. The complex will include a multi-purpose terminus with 10 floors, featuring a bus stand, commercial spaces, and parking facilities. Additional amenities include charging stations for electric buses, connectivity to the Chennai Metro, and a skywalk to the Fort suburban railway station.
The ₹823 crore project will be funded by a Viability Gap Fund of ₹200.84 crore from the state government, ₹115.03 crore as a soft loan from the Chennai Metropolitan Development Authority (CMDA), and ₹506.83 crore as a term loan from the Tamil Nadu Urban Finance and Infrastructure Development Corporation (TUFIDCO).
