Right time to buy properties near metro (thirumagalam,madhavaram,poonamallee,sholinganallur) for better future.
Properties near a metro station tend to appreciate in value faster and retain their value better than properties in other areas. On average, properties near a metro station can increase in value by 10–20%.
Increased demand: Properties within walking distance of a metro station are generally more desirable and have higher rental values.
Metro connectivity provides a convenient and organized commute for city dwellers and tourists
Construction of metro stations and rail lines can lead to the development of new infrastructure in the surrounding area, such as roads, parking, and pedestrian walkways. This can make the area more attractive to buyers and investors.
CMRL plans to turn Thirumangalam plot into commercial hub.
CHENNAI: In a strategic move to unlock the potential of its land assets and boost non-fare revenue, Chennai Metro Rail Limited (CMRL) has earmarked a key land parcel spanning over 600 meters along the viaduct near Thirumangalam Metro Station for property development.
CMRL has signed a contract with a joint venture between Aarvee Associates and Anarock Property Consultants for the preparation of a Detailed Project Report (DPR).
The DPR will cover feasibility studies, market analysis, transactional advice, and concept planning, culminating in submissions for approval from the Chennai Metropolitan Development Authority and Greater Chennai Corporation.
The consultancy will also prepare a comprehensive land use report to support commercial development in Chennai’s metro network. The contract, valued at Rs 27.61 lakh (excluding GST), is expected to be completed in 90 days.
The signing ceremony, held on Thursday, was attended by CMRL Director (Projects) T Archunan, Chief General Manager Rekha Prakash, and senior representatives from both firms. T Livingstone Eliazer, Chief General Manager of CMRL, signed the agreement, along with JK Nandana from Aarvee Associates and S Vinouth from Anarock Property Consultants.
This initiative is a key step in CMRL’s plan to generate non-fare revenue and transform underutilised land into commercial hubs.
