Good morning, Chennai!
🌤️ Today’s weather: High: 36 ℃ | Low: 26 ℃ | Mostly sunny with some cloud cover.
🧐 Did you know? A cannon fired exactly at 8pm helped people in Fort St. George, Madras, tell time during British rule. This cannon was connected to the Madras Observatory, which set the standard time for Madras.
🏎️ F4 race delays
The highly anticipated Chennai F4 night race didn’t get off to a smooth start due to technical and legal issues.
What happened? The teams, drivers, and officials had to endure a frustrating wait since the organisers, Racing Promotion Private Limited (RPPL), couldn’t get the FIA’s clearance by 12 noon as mandated by the Madras High Court. They eventually got a six-hour deadline extension. Some work also got delayed due to unexpected rain on Friday evening.
- Over ₹200 crore was spent on the event, and over 5,000 tickets were sold. For those who came to the venue, it was a long wait with little information from officials on the delays.
- The organisers got the FIA’s approval at 5 pm, and the circuit was granted a G3 circuit license. The program for the day included free practice and qualifying.
Schedule changes: Due to the delays, the qualifying sessions were pushed to Sunday. Only at 9 pm did the spectators see some actions with the drivers taking to the circuit for the practice session.
🏠 Expansive homes demand
More homebuyers in the city are prioritising space and well-equipped kitchens.
What’s it about? Space seems to be the operative word for homebuyers. There’s an increasing demand for spacious, well-equipped and fitted kitchens. Those opting for luxury apartments want three and four-bedroom units with one-floor apartment layouts.
- According to CREDAI, at least 100 luxury homes were sold in the first half of 2024 in Chennai. Pre-Covid, the ratio of homebuyers choosing two to three-bedroom apartments was 45:55. That’s now shifted to 30:70.
- In kitchens, people want more equipment like dishwashers, ovens, and other appliances. Since men and women cook at home, it necessitates a larger space.
Spacious homes: Those choosing luxury homes in areas like Adyar, Nungambakkam, and T Nagar are particular about one-floor layouts. Most buyers are high-net-worth individuals who aren’t just NRIs but locals.
🚌 Multi-modal facility at Broadway
The state government has approved a multi-modal facility at the Broadway bus stand.
What’s it about? The approval is for the new facility at the Broadway bus stand with the Kuralagam buildings for ₹827.7 crore. The administrative sanction was granted last September to ensure the complex was accessible for metro passengers.
- The new complex will have 10 floors – two basements, two floors for the bus stand and six floors for commercial enterprises. The facility is designed to accommodate 1,100 buses and offer access to metro and suburban trains.
- The bus stand will have multiple entry and exit points, space for autos and taxis, and a parking facility for 700 cars and 800 two-wheelers. There’ll also be charging ports for electric vehicles.
Funding: The facility will be built through a special purpose vehicle (SPV) – the Chennai Metro Asset Management Limited. The government will provide ₹200.84 crore. The Chennai Metropolitan Development Authority will provide ₹115.03 crore as a loan to the Corporation, and the remaining amount will be a loan from the Tamil Nadu Urban Finance and Infrastructure Development Corporation.
🚇 Commercial boost for metro
The Chennai Metro plans to develop properties around phase 2 metro stations.
What’s it about? The Chennai Metro Rail Limited (CMRL) has initiated studies to develop commercial properties across eight locations for the phase 2 stations. The locations identified are Thirumangalam, Alandur, Vadapalani, KK Nagar, Mandaveli, Anna Nagar West, Thousand Lights, and Koyambedu.
- At Thirumangalam, the plan is for a 12-storey building where metro trains will pass through and stop on the third floor. At Thousand Lights, a commercial complex on Anna Salai will be developed with an underground passage.
- At Alandur, the development will be next to the phase 1 and 2 stations. The CMRL has prepared a transit-oriented development plan for buildings, people, and public transport together.
Revenue aspect: The revenue from ticket sales isn’t enough to cover the operating costs of the metro. In 2022-23, the CMRL generated ₹57.86 crore of non-fare box revenue, 65% more than in 2021-22.
📊 Today’s Poll
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🗞️ In other news…
- The Chennai Corporation has allocated ₹75 lakh to repair roads in the Tondiarpet zone.
- The Chennai Metro Rail inaugurated a substation for the phase 2 Poonamallee depot.
- Traffic diversions due to the Formula 4 race resulted in traffic congestion on interior roads.
- Take a peek inside the workings of Chennai’s Integral Coach Factory (ICF).
- The Gleneagle’s Hospital will open a dedicated women’s health wing.
That’s it for today. Have a great day!