TN clears Rs 180cr proposal to develop Shenoy Nagar Metro

Chennai:

Shenoy Nagar Metro station is likely to get a new look after the state government gave green light to for vehicle parking and commercial development at a cost of Rs 179.57 crore.

Shenoy Nagar Metro Station, the only underground station which has access to sunlight at the concourse level that is eight metres below the street level, will have a vehicular parking area, public plaza, passenger amenities and landscape.

The station, the second largest underground station after Chennai Central Metro station, is located located on a prime area and is surrounded by dense residential area and office and commercial spaces. It is below Thiru Vi Ka Park at Shenoy Nagar and the sanction was accorded after Chennai Metro prepared a detailed concept plan..

As per the plan, the total area of the park is 37,900 square metres. The proposed area covered by the vehicular parking at basement will be 30,900 square metres and the area earmarked for property development will be 30,900 square metres.

In addition, an extent of 4,800 square metre at ground level is earmarked for parking and an area of 29,000 square metres is earmarked for landscaping.

According to Chennai Metro Rail, the total cost of the project including the presentation of DPR is estimated to be Rs 179.57 crore.

It is learnt that Chennai Metropolitan Development Authority will be providing the interest free loan utilizing the regularization fee collected and deposited by CMDA in the government account.

The net revenue earned from the project will be shared with Greater Chennai Corporation based on terms mutually agreed with Chennai Metro Rail.

It is learnt the green light was accorded after Shenoy Nagar Underground Metro Station development project was placed before a High Power Committee on Chennai Metro Rail Limited on March 8, 2017.

Factfile:

1.  Chennai Metro Rail to develop space adjoining Shenoy Nagar Metro station and Thiru-Vi-Ka Park area at a cost of Rs 180 crore

2.  This will include a vehicular parking area, public plaza, passenger amenities and landscape.

3. There is a plan to develop 29,000 square metres for landscaping