TN housing board to develop Malaysia’s Petronas-like twin towers
October 16, 2017

Tamil Nadu Housing and Urban Development Department has announced to develop Periyar Building in Nandanam into the state's tallest skyscraper, consisting of a 50-floor building in concrete and glass. The building will be linked at the 20th level to another 35-floor highrise building, via a skywalk across Anna Salai. The 50-floor commercial tower will be 230m (755 ft) tall. Expected to be constructed at an estimated cost of Rs 700 crore to Rs 750 crore, the twin tower project will be identical to the Petronas Towers in Malaysia, the tallest twin towers in the world. Officials have stated that the…

Tamil Nadu govt waives off OSR charges for unapproved plots
October 15, 2017

The Tamil Nadu government has decided to waive off major percentage of the penalty imposed on unapproved plots for their regularisation under an ongoing amnesty scheme across the state. The move has been announced considering a lukewarm response to the regularisation scheme among residents. The scheme had started in May and is scheduled to end by November 2017. Besides penalty waive off, the government has also decided to extend the scheme by another six months. The state government has waived off Open Space Reservation (OSR) charges, imposed on the plots on account of the layout promoter not earmarking park area…

Chennai development body to redevelop George Town, Triplicane and Puraswalkam
October 13, 2017

The Chennai Metropolitan Development Authority (CMDA) will soon prepare a feasibility report and detailed project report (DPR) for the Redevelopment of Continuous Building Area such as George Town, Triplicane and Purasawalkam. Around 550 hectares of the area would be covered under the DPR. George Town area alone accounts for 365 hectares. The Authority would consider all major aspects of wider roads, public open spaces, better ventilation, enhance physical and social infrastructural facilities in order to accomplish better living conditions in these three old settlements in the city. Experts opined that property or area redevelopment is the most feasible way to…

Tamil Nadu govt launches website for submission of building plans
October 12, 2017

The Tamil Nadu government has launched a website for submission of building approval applications to the Chennai Metropolitan Development Authority (CMDA). The move will eliminate manual submission of such approvals in several parts of the state under the jurisdiction of the Chennai Metropolitan Area (CMA). To make the online submission more transparent and hassle free, the portal has a sample application to guide users for filing their applications online. Once the application is submitted online, the status of online applications can be tracked. Experts state that the online system is aimed at expediting the digitisation of building approval processes in…

Tamil Nadu govt to cut penalty amount for unapproved plots
October 9, 2017

Considering the poor response for regularisation of unapproved plots across the state, the Tamil Nadu government is planning to reduce the penalty announced for the unauthorised plots. So far, only 22,000 applications have been received for regularisation out of 14 lakh unapproved plots in the state. Officials have stated that the State's Housing and Urban Development Department is going to reduce the development charges, a part of the penalty, by 15 to 25 percent. Unapproved plots in villages would get the maximum cut of 25 percent of the development charges. In urban areas, the penalty amount may see a revision…

Tamil Nadu RERA: List of approved projects and agents
October 9, 2017

As of now, 24 states and Union Territories (UTs) have notified Real Estate (Regulation and Development) Act (RERA). The Tamil Nadu government had notified rules along with its RERA website for online registration of ongoing projects in the state. The state government has not appointed a permanent regulator yet. The Secretary, Housing and Urban Development Department has been appointed as an interim regulator. As per the latest information available on the Tamil Nadu RERA website, 106 real estate projects have successfully registered under the Act. About 126 realty agents have received the registration certificate, valid till 2022. Interested homebuyers may…

Tamil Nadu RERA issues notice to a developer for transferring project ownership
October 3, 2017

On receiving multiple complaints from homebuyers, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has issued a notice against a developer, who transferred his ongoing project to another developer. Officials have informed that about 70 homebuyers had complained about the project located in Medavakkam. Back in 2011, the developer had received planning permission from the Chennai Metropolitan Development Authority (CMDA) for constructing 340 residential units under the project, but the developer transferred the project to another builder. The original developer did not inform the CMDA about transferring the project completion to another developer. In that case, Tamil Nadu RERA has…

Tamil Nadu RERA: 89 projects registered till date
September 29, 2017

Till now, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has granted registration numbers to 89 realty projects across the state since the notification of the Real Estate (Regulation and Development) Act (RERA). Most of the approved projects are located in Chennai and Kancheepuram districts and a few are in Coimbatore district. Homebuyers can easily access all details and necessary information about the registered projects on the Tamil Nadu RERA website. The state government had notified RERA rules in the last week of June 2017, mandating registration of ongoing projects without completion certificates (CCs). However, exemptions were given to housing…

Two buildings in Chennai sealed for violating building norms
September 28, 2017

The Chennai Metropolitan Development Authority (CMDA) has sealed two under-construction properties located at George Town and Royapettah. These structures have reportedly violated the building plan permission granted by the Authority. Both the buildings, situated at Thambu Chetty Street in George Town and West Cott Road at Royapettah, have constructed an additional floor without seeking permission from the Authority. Officials have stated that the building at George Town has developed an extra floor, while the builder had taken permission to construct a ground plus one (G+1) floor from the Greater Chennai Corporation. To track all builders violating the approved building plan,…

State sanctions land acquisition for expansion of Chennai Airport
September 22, 2017

The Tamil Nadu government has given a nod to the acquisition of 50.2 acres of land at Kolapakkam by the Airport Authority of India (AAI). This land will be used for the expansion of Chennai airport. In August 2017, AAI had announced its intention to acquire patta lands at Kolapakkam village in Kancheepuram district to set up hangars and fuel farms as part of Chennai airport. In June, 30.57 acres of land were notified at Manapakkam village in Alandur taluk. AAI has plans to acquire 184 acres of land for the project. Plots have been identified at different locations, including…

Tamil Nadu RERA issues notices to 320 unregistered builders
September 22, 2017

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has recently issued notices to 320 builders who have failed to register their projects under the Real Estate (Regulation and Development) Act (RERA). Officials have stated that the Chennai Metropolitan Development Authority (CMDA) had approved construction of 400 and 385 buildings in 2015 and 2016, respectively. Of these approved buildings, around 320 are still unregistered under the Tamil Nadu RERA. As per the RERA norms, all ongoing projects with eight units and area of 500 sq m are included in the purview of the act. However, the CMDA and Directorate of Town…

Tamil Nadu RERA commences enquiry into complaints
September 17, 2017

Following in the footsteps of MahaRERA, Tamil Nadu real estate regulator has also started looking into complaints received under the Real Estate (Regulation and Development) Act (RERA). Its first enquiry is into a Chennai developer who has been accused of delaying possession. The developer has also been asked to register the ongoing projects under Tamil Nadu RERA. According to the aggrieved buyers, the two projects in question have a total of 1,500 units. The project construction had commenced in 2010-11 and was scheduled to be delivered by 2013. Complainants state that the developers has already been paid about 50 to…

Proposed policy changes to benefit Tamil Nadu real estate
September 15, 2017

The Tamil Nadu government has decided to make alterations in the existing housing policy by incorporating improved plans for land pooling, low-cost housing, and project approvals. This could overhaul the city’s realty landscape and give a major fillip to market sentiment in the coming quarters. DP Yadav, Secretary, Tamil Nadu Housing and Urban Development, stated that the government will draft a completely new land pooling policy for the state. Officials have also informed that the state housing department is likely to approve a long-pending proposal to introduce a new township policy in the state. The state government has also been…

Chennai to have uniform tax rates within 90 days
August 23, 2017

Greater Chennai Corporation (GCC) plans to set uniform tax rates across all the city over a period of 90 days. GCC officials share that the rationalisation of rates will increase the annual revenue collection of the body by around Rs 150 crore.  The corporation is expected to adopt a resolution for making property taxes uniform across all 15 zones in Chennai by November 2017. However, this change will not reflected until April 2018 when the new financial year begins.  The GCC has also announced that tax rates will not be revised until a year after the rationalisation of tax rates. This implies that the…

Tamil Nadu RERA: Authority to issue notice against unregistered builders
August 22, 2017

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) will issue show-cause notice to all unregistered builders and real estate agents across the state. The Authority has identified that many agents and developers whose projects cover more than 500 sq m or eight dwelling units in the Chennai Metropolitan Area have not registered with the state regulator.  Officials have informed that the Authority will screen all developers who have failed to register their projects under Tamil Nadu RERA. Local authorities will share information of building approval data with the Authority soon. Moreover, legal action will be taken against all unregistered developers.…

Tamil Nadu RERA approves 16 projects
August 21, 2017

According to Durga Shankar, Union Housing and Urban Development Secretary, Tamil Nadu real estate regulatory authority has received 188 manual applications for registration of realty projects under the Real Estate (Regulation and Development) Act (RERA). Of these 16 projects have already received RERA registration numbers. Officials share that applications for 42 projects have been put on hold as they do not have complete information. The developers of these projects have been urged to furnish missing details in order for their applications to be processed at the earliest. Meanwhile, 64 applications have been received from real estate brokers in the state,…

Regularisation scheme for unathorised buildings in Tamil Nadu receives poor response
August 19, 2017

Not a single application has been filed with the exclusive portal launched by the Tamil Nadu government to regularise unauthorised buildings in the state. The portal was launched 20 days ago under the state’s regularization scheme but has failed to evoke any interest from property owners. Officials have informed that around 50 property owners in the Chennai Metropolitan Area have registered with the website so far. However, no application has been submitted yet. Similar trends have been noted in other parts of the state as well. Officials of other departments including Directorate of Town and Country Planning (DTCP) have witnessed…

GST pushes up apartment maintenance charges to 18%
August 10, 2017

Post the implementation of Goods and Services Tax (GST), people living in apartments under Residents Welfare Associations (RWAs) in Chennai have to pay extra three percent as a maintenance charge for their flats. Prior to the roll out of GST, maintenance chargers for apartments involved service tax of 15 percent which has now risen to 18 percent at several localities in the city, including Sholinganallur, Nalavur, Chemmencherry, and Kelambakkam. The maintenance charges in these areas range from Rs 3,000 to Rs 10,000 per month.  K Ketharinath, Secretary, Jains Saagarika Apartment Owners Association, MRC Nagar, has stated that the maintenance charges…

Page 1 of 56