CHENNAI: The much-awaited satellite bus terminus in Madhavaram will be built at a cost of Rs 94.16 crore after CMDA approved the tender of BNR Infrastructure Projects at a hurriedly convened authority meeting last month.
The estimated value put to tender for the terminus, which will cater for commuters going to the neighbouring Andhra Pradesh, was Rs 80.5 crore based on the PWD schedule of rate for 2014-15.
However, as per the authority meeting, the revised estimate for 2015-16 works out to Rs 82.23 crore. “This works out to 16.97 per cent higher than the value put to the tender,” sources revealed.
While it could be a good news for Chennaiites, the plan for the bus stand has yet to be approved. Besides with the model of code of conduct being implemented, the project is likely to commence only after the elections.
These works can start only after the completion of the election process.” The project will come up on the vacant site at the junction of the GNT Road and Inner Ring Road, measuring about eight acres near the 100-acre truck yard.
Initially, the cost for constructing the bus terminus worked out at Rs 32 crore. Sources said the cost had escalated after a detailed project report was submitted by Mahindra Engineering Consultants.
The feasibility report for building a bus terminus was initially not favourable due to congestion in Inner Ring Road.