Chennai Metro Expansion plans: the CMRL is planning to build commercial and shopping zones around key metro stations in phase 2.
Within the next few years, you can off-board the Chennai metro and walk straight into your office or a large shopping complex without setting foot on the streets for the same.
There are plans to develop properties around phase-two metro stations in at least eight different places, which is what Metrorail has in store for the city.
Localities Identified with Commercial Possibilities:
Properties in Thirumangalam, Alandur, Vadapalani, KK Nagar, Mandaveli Anna Nagar West, Thousand Lights, and Koyambedu have been identified for Chennai Metro Expansion with commercial development.
There are some of these sites that have been purchased by CMRL for development, but there are also assets in other locations that will be developed in collaboration with MTC.
Between the property and the stations, there will be a pedestrian tunnel or a walkway that is reserved only for pedestrians.
According to a CMRL official, “We have initiated a study to develop these properties in seven of the locations(excluding Koyambedu),”
He stated in addition, “We have the biggest property in Koyambedu near our existing station, our depot, and the bus terminus, which may be developed jointly with CMDA and Chennai Corporation,”.
A building with twelve stories is what Metrorail intends to construct at Thirumangalam.
The third story of the structure, which is where the station will be located, will be the location where Metro Trains will pass through and stop.
A block of land of a 450-meter-long plot located next to the Thirumangalam flyover has been purchased for the same.
At Thousand Lights, Metrorail has acquired an existing commercial complex on Anna Salai for Chennai Metro Expansion with commercial Development.
The commercial complex acquired at Thousand Lights will be demolished and developed with an underground passage linking the building with the underground phase-two metro station, which will come upon Whites Road.
For Chennai Metro expansion with commercial development alongside, Alandur, the development will be near phase one and two stations. MTC bus depots at Mandaveli and Anna Nagar West will be developed.
The state government will reportedly be approached for funding to develop the locality spots chosen.
Chennai Metro Expansion with Commercial Development Seen as Revenue Model:
The expansion with Commercial development is foreseen as a revenue generation model for CMRL.
In 2022–2023, CMRL earned 57.86 crore from no-fare box sales, up 65 percent from 34.98 crore the previous year, as reported in the company’s annual report.
“We have come up with a transit-oriented development plan where we are developing properties around metro stations to bring buildings, people, activities, and public transit together,” a Metrorail representative had previously stated.
“The revenue generated from ticket sales will not be sufficient to cover the cost of daily operations and loan repayment, even if the trains are fully booked,” says CMRL director R Ramanathan.
According to him, “generating additional revenue and achieving profitability can be achieved by developing and renting properties in the vicinity of the stations, renting spaces within the stations to retail outlets, and placing advertisements”.
Summing up, The Chennai Metro expansion shows the city’s progress. Commercial developments within stations will make Chennai even more vibrant and energetic.
Metro connectivity and accessibility will boost economic activity and improve Chennai resident’s quality of life.
The metro rail development will shape Chennai’s future as it grows.
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