G.O.Ms.No.67, Central Tower Building Project Administrative Sanction
The Tamil Nadu Planning, Development and Special Initiatives Department issued Government Order G.O.Ms.No.67 dated 14 March 2024, granting administrative sanction of Rs.491.40 crore for the Central Tower Building Project. Chennai Metro Rail Limited will implement the project until Chennai Metro Asset Management Limited, a Special Purpose Vehicle jointly owned by Chennai Metro Rail Limited and Tamil Nadu Industrial Development Corporation, is formed and takes over.
What the government approved
Government Order G.O.Ms.No.67 dated 14 March 2024 grants administrative sanction for implementing the Central Tower Building Project at an estimated cost of Rs.491.40 crore. The Tamil Nadu Planning, Development and Special Initiatives Department issued the sanction with the concurrence of the Finance Department.
The Central Tower Building is proposed above the foundation and three basement floors already constructed as part of the Central Square Project. The document records the following costs:
- Rs.197.00 crore has already been incurred by Chennai Metro Rail Limited for the foundation and three basement floors.
- The completion cost, including the existing foundation and basement floors, is Rs.688.40 crore.
- Construction of the ground floor and 27 upper floors is estimated at Rs.491.40 crore.
Who will implement the project
Government Order G.O.Ms.No.67 assigns implementation to Chennai Metro Rail Limited until a new Special Purpose Vehicle is formed and takes over the project. Chennai Metro Rail Limited must send the government a monthly report on implementation progress.
The proposed Special Purpose Vehicle is Chennai Metro Asset Management Limited. It is to have equal equity participation from:
- Chennai Metro Rail Limited.
- Tamil Nadu Industrial Development Corporation.
The Special Purpose Vehicle was proposed for commercial projects using available land parcels belonging to agencies of the Government of Tamil Nadu. The document states that formation of the company would take time, so Chennai Metro Rail Limited was allowed to continue the Central Tower works in the interim.
Funding and government use
Government Order G.O.Ms.No.67 records that Rs.135.00 crore had already been sanctioned as the government contribution towards a one-time advance licence fee. This relates to six floors in the proposed Central Tower Building reserved for government use.
The amount was intended to begin design, construction and other project activities. Any variation in project cost is to be borne by the Special Purpose Vehicle as a project risk.
Relevance to property owners and buyers
Government Order G.O.Ms.No.67 concerns project funding, construction responsibility and the future transfer of implementation to Chennai Metro Asset Management Limited. It does not state that private land is being acquired, reclassified or transferred, and it does not set out changes to private property registration or ownership rights.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does G.O.Ms.No.67 change the ownership or land use of my private property?
The document does not state any change to private land ownership, land use or property registration. It grants administrative sanction for the Central Tower Building Project and sets out implementation arrangements.
How much has the government sanctioned for the Central Tower Building Project?
The Tamil Nadu Planning, Development and Special Initiatives Department granted administrative sanction for an estimated project cost of Rs.491.40 crore.
Who is responsible for constructing the Central Tower Building?
Chennai Metro Rail Limited will implement the project until Chennai Metro Asset Management Limited is formed and takes over implementation.
How many floors of the Central Tower Building are reserved for government use?
Six floors are reserved for government use. The document records a sanction of Rs.135.00 crore towards a one-time advance licence fee for those floors.
