Chennai’s Metro Rail (CMRL) has ambitious plans to transform the city’s landscape by developing commercial properties around its Phase-2 metro stations. This initiative, known as Transit-Oriented Development (TOD), aims to create a seamless integration of transportation, commercial spaces, and residential areas, enhancing the overall urban experience.
The project will encompass eight locations, including Thirumangalam, Alandur, Vadapalani, KK Nagar, Mandaveli, Anna Nagar West, Thousand Lights, and Koyambedu. These locations have been strategically chosen due to their high potential for commercial development and proximity to metro stations.
At Thirumangalam, CMRL plans to construct a 12-story building that will house a metro station on the third floor, offering convenient access to commuters. The station will be directly linked to the building through an exclusive walkway or pedestrian subway.
In Thousand Lights, CMRL has acquired an existing commercial complex on Anna Salai, which will be demolished and redeveloped. The new complex will be connected to the underground Phase-2 metro station on Whites Road via an underground passage.
At Alandur, the development will be strategically located next to both Phase-1 and Phase-2 metro stations, providing convenient access to the city’s major transportation hubs.
CMRL also plans to develop MTC bus depots at Mandaveli and Anna Nagar West, further enhancing connectivity and accessibility for commuters.
The development of these properties will be funded through a combination of sources, including state government funding. CMRL has already initiated studies for the development of these properties, with the exception of Koyambedu, where the project will be jointly developed with the Chennai Metropolitan Development Authority (CMDA) and the Chennai Corporation.
CMRL’s decision to develop commercial properties stems from the need to generate additional revenue to support its operations and loan repayments. The revenue generated from ticket sales is not sufficient to cover daily expenses, prompting CMRL to explore alternative revenue streams, including property rentals and advertising.
The revenue generated from non-fare box activities has already shown significant growth. In the financial year 2022-2023, CMRL generated ₹57.86 crore from non-fare box revenue, representing a 65% increase compared to the previous year. This signifies the potential of TOD projects in generating sustainable revenue for transportation infrastructure.
Former CMRL director R Ramanathan emphasizes the importance of these initiatives, stating that developing properties around stations, renting out spaces within stations, and advertising are crucial for ensuring the long-term sustainability and profitability of the Chennai Metro.
CMRL’s TOD strategy is a significant step towards creating a more efficient and integrated urban environment in Chennai. By combining commercial development with public transportation, the project aims to enhance the quality of life for residents and attract investment opportunities, contributing to the city’s overall economic growth.
