Chennai Metro: All you need to know about the CMRL network
Did you know that after Delhi and Hyderabad CMRL metro network is India’s third-longest metro train network? Yes, that’s true. Chennai is one of the biggest cities in India with a functioning metro train system.
Over the years the Chennai Metro has enhanced so drastically in Tamil Nadu, that it has also had a favorable influence on the real estate market in the southern metropolis. Today we’ll have a detailed look at the CMRL network.
The dawn of the CMRL network
The plan to make the Chennai Metro started in 2007 following the approval of Rs 50Cr from the government. After the national government authorized the Chennai Metro Rail Limited (CMRL) project on January 28, 2009, construction began in June 2009 to build a metro rail link between Koyambedu and Chennai.
The launch of CMRL
The 4.5-kilometer route between Alandur and Koyambedu stations of the Chennai Metro (CMRL) opened to the public on June 29, 2015. The Chennai Metro also began operations between the Chennai International Airport Metro Station and Little Mount on September 21, 2016.
What is the Metro Fare?
Currently, the is Rs 50 if you want to travel in the Chennai Metro. The fare was brought down where earlier the charges were Rs 70. If you want to travel at a distance of just 2KM then the fare is just Rs 10. But there were a lot of public demands saying that the prices have increased, so a new structure for fare price was announced by the government. This says that if you want to travel at the distance of 21Kms then you’ll have to pay Rs 50 and 30 for traveling the distance of 5kms to 12kms in the Chennai Metro.
What is the impact on Real Estate?
A well established with a well-established metro, where connectivity seems to not be a problem attracts buyers as the demand increases. This is especially true in suburban home markets, where the potential for gain is considerably greater than in central regions, where property prices are excessive. According to a report the residential prices were Rs 3600 per square foot before the establishment of the metro and after the launch of the Chennai Metro, the prices have now increased to Rs 7000 per square foot.
Final Thoughts
According to a prediction, it is said that the Chennai Metro carries more than 12lakh passengers in just one day. What are your thoughts on this? Please us know in the comments below.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
