Aloysius Xavier Lopez
Move to add built-up space for public and commercial use
CHENNAI: Tenders have been called by the Chennai Metropolitan Development Authority from consultants to support the CMDA in development of space available above three stations at Taramani, Perungudi and Velachery, constructed under Phase II .
The initiative seeks to regulate commuter movement on the outskirts. This would also provide an opportunity to integrate government departments, currently housed in private buildings, under one roof.
The development of four floors with a built-up area of 18,000 sq m at the Taramani station, 18,000 sq m on ground-plus-seven floors of Perungudi station and 24,000 sq m on five floors of Velachery station would be carried out in a Build Operate Transfer (BOT) mode.
According to CMDA officials, the delay in completing the development of the available space at the stations was on account of upgrading of the seismic zone of Tamil Nadu, requirement of clearance for six stations falling under Costal Regulation Zone III and need for updating the cost estimates as the completion of the terminal work was done recently.
The construction of the facility is expected to augment supply of urban built-up spaces for corporate, public and commercial organisations. It would also help in the recovery of the State government’s share of investment in the development of MRTS through sale, lease or contracting of commercial spaces, officials said.
The third phase of MRTS from Velachery to St.Thomas Mount is in progress. The first phase between Chennai Beach and Thirumailai for a distance of 8.97 km was commissioned in 1997 at a cost of Rs.280 crore. The second phase from Thirumailai to Velachery for a distance of 11.17 km was commissioned in 2008 at a cost of 734 crore.
As per the memorandum of undertaking (MoU) executed between the Railways and the Government of Tamil Nadu, the land required for laying track and constructing stations for Phase II of the project was given by the State government on lease for a period of 99 years. It has also shared the cost of project in the ratio of 67:33 with the Railways and retained the rights to exploit airspace over station buildings and in the land adjoining the stations. The State government had identified the CMDA as the nodal agency for the implementation and periodic monitoring of Phase II of the project. According to the assessment of the commercial potential of the project by the CMDA, the internal rate of return is expected to be 15 per cent.