Chennai Metro: CMRL plans to develop 73 lakh sqft commercial space along phase 2 corridors
The Chennai Metro Rail Ltd (CMRL) has plans to develop 73.4 lakh square feet of commercial property across at least 37 locations along its Phase-II metro corridors. As per The Economic Times, CMRL plans to monetize land parcels to boost non-fare box revenue and strengthen the financial sustainability of the expanding metro network.
As per the plans, the development will include:
An integrated four-storey building is planned on a nearly 22,000 square foot plot, with over 43,000 square feet of built-up area to be developed witth an investment of Rs 16.47 crores at Kutchery Road.
A standalone four-storey commercial building near Boat Club with a basement is proposed on an 8,200 square foot plot, offering more than 17,000 square feet of built-up space. The estimated investment on project is Rs 6.59 crores. Further, the plan covers the development of 2 additional integrated buildings planned nearby.
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