Chennai Metro Rail Limited plans to develop over 3 million sq.ft of office and retail space at Phase II stations

Chennai Metro Rail Limited (CMRL) is all set to offer more than 3 million square feet of office and commercial space when the Phase II Project is completed in three years.

According to CMRL officials, of the 128 stations on the 118.9-km Phase II network, they have planned property developments in at least 25. While huge towers will come up at Chennai Central, Mandaveli, Thousand Lights and Thirumangalam Metro Stations, CMRL will construct additional floors for use as office space or to set up retail outlets at many stations including Perungudi, Sholinganallur, Karapakkam, Thoraipakkam, Madhavaram High Road, Sembiyam, Ayanavaram, Otteri, Perambur Barracks Road, Purasawalkam, Chetpet, Sterling Road, Nungambakkam, Royapettah, Adyar Depot, and Thirumayilai.

“Learning from the Phase I project, we realised the need to create such infrastructure at the construction stage itself. Based on the land availability, whether it is above the entry/exit points or an adjoining land, we are setting up multi-storey buildings to function as office, commercial, or retail spaces. Be it commuting for work, shopping, or dining, it should shift to public transport in future,” an official said.

A. Shankar, India Head-Government Advisory and Infrastructure Solutions, JLL India, said Chennai city was going to significantly benefit thanks to a massive supply of 3 million sq.ft of office space and 0.25 million sq.ft of retail space over the next few years.

Area of proposed properties on corridors 3 and 5

“There is an increasing demand for office spaces in the city. Developing office and retail spaces integrated into Metro Rail Stations or on adjacent parcels of land is an ideal strategy at a time when there is land scarcity for commercial spaces,” he said.

Mr. Shankar noted that huge property development projects on land parcels would attract big players to set up offices or malls in the vicinity of the stations. “The fairly smaller stations such as Boat Club, Nungambakkam, and Sterling Road can boost premium retail demand in specific micro-markets and trigger a fresh demand.”

An artist’s impression of the proposed infrastructure at Nungambakkam Metro Station.
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Special arrangement

Benefit for IT corridor

The information technology corridor on Old Mahabalipuram Road and the Mount-Poonamalle Road corridor (the upcoming fintech corridor) will gain substantially thanks to the connectivity that will be offered by Chennai Metro Rail and the addition of such office and commercial spaces, he contended.

“Almost every station has been designed keeping in mind retail and commercial development. Whether companies set up offices or retail and food outlets come up, the whole ecosystem will be strengthened after the Phase II project is completed, transforming it into a world-class facility as transit-oriented development takes root in Chennai,” he added.