Tamil Nadu RERA approves 17 ongoing projects in December
December 16, 2017

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) had registered only 17 ongoing housing projects in the month of December. Of the 17 new projects, two are located in Krishnagiri and Tiruvallur districts. Remaining structures are spread across Chennai, Coimbatore, Cuddalore and Kancheepuram districts. With this, the total number of housing projects registered with TNRERA reaches to 262 since its formation. Till now, a total of 169 real estate agents have successfully registered with the Tamil Nadu Real Estate Regulatory Authority (TNRERA) under the Real Estate (Regulation and Development) Act (RERA). About 130 real estate agents are based in Chennai.…

Regularisation of unauthorised units in Tamil Nadu receives poor response
December 15, 2017

The amnesty scheme for the regularisation of unauthorised buildings in Tamil Nadu has received a poor response. The deadline of the scheme is approaching on December 25, 2017. Officials have stated that heavy penalty attached with unregularised properties is the primary reason for such a dull response for the scheme. S Ramaprabhu, Secretary, Builders Association of India, South Chennai, has stated that the penalty amount is so big that one can buy a used apartment in the same locality instead of paying the fine under the regularisation scheme. Launched back in June this year, only 30 applications have been applied…

Work on Chennai Metro Phase 2 to begin from early 2018
December 11, 2017

The construction work for the Chennai Metro rail project Phase 2 will begin early next year. Covering a distance of 107 km, phase 2 is expected to become operational in the next eight years, by 2025. Estimated to be completed at a budget of Rs 80,000 crore, the phase 2 will be developed in different stages. The Chennai Metro phase 2 will have 104 stations. Except for the portion from Kandanchavadi bus stop to SIPCOT, the remaining stretch of the three corridors will be underground. It has been assumed that the underground construction would cost around Rs 400-500 crore per…

Tamil Nadu RERA approves registration of 161 real estate agents
November 28, 2017

Till now, a total of 161 real estate agents have successfully registered with the Tamil Nadu Real Estate Regulatory Authority (TNRERA) under the Real Estate (Regulation and Development) Act (RERA). Out of all registered realty agents, 99 agents have registered under the category of firm and the remaining 62 have registered as individual brokers. About 130 real estate agents are based in Chennai. All details about the registered agents on the Tamil Nadu RERA website. You can get all details here. Officials have stated that around 30 real estate agents had registered with the regulatory authority in one month, starting…

Tamil Nadu RERA: List of approved projects and agents
November 27, 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, 223 real estate projects have successfully registered under the Act. About 161 realty agents have received the registration certificate, valid till 2022. Interested homebuyers may…

Gr Chennai authority to track illegal properties using drones
November 25, 2017

Greater Chennai Corporation has decided to keep a strict vigilance on all building construction without obtaining necessary permit and builders violating property tax with the help of unmanned aerial vehicles (UAVs) such as drones. This would help generate more revenue as many structures in the city are under-assessed. Officials have informed that the Corporation would develop drone imaging projects, generating a 3D map of the city’s properties and other utilities. A Hyderabad-based firm, that has been recruited for executing the project, aims to cover at least one sq km per day of the city’s total area, standing at 426 sq…

Tamil Nadu RERA: 29 notices issued against incomplete realty projects
November 20, 2017

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has recently issued notices to 29 structurally completed housing projects for registration with the regulatory authority. The notices have been issued against realty projects located in Coimbatore, Madurai and Kancheepuram. As of now, overall 204 ongoing projects have been filed for registration under the Real Estate (Regulation and Development) Act (RERA). Out of the applied projects, 29 projects have been identified as incomplete during an inspection. The inspection was carried by the Directorate of Town and Country Planning (DTCP), covering all realty projects across the state barring the Chennai Metropolitan Area (CMA).…

Nearly 175 projects in Tamil Nadu to be out of RERA’s ambit
November 15, 2017

Over 160 real estate projects constructed in areas falling under the Directorate of Town and Country Planning (DTCP) will not fall under the ambit of Realty Estate Regulatory Authority (RERA) as the respective planning authority has declared them completed. A list of such projects has been published on the Tamil Nadu Real Estate Regulatory Authority's (TNRERA) portal. As per official sources, around 204 ‘structurally completed’ housing projects situated in different parts of Tamil Nadu except Chennai Metropolitan Development Authority (CMDA) limits have submitted applications with the concerned local planning authority. According to Tamil Nadu Real Estate (Regulation and Development) Rules,…

Gr Chennai authority identifies 141 unsafe buildings in Royapuram
November 14, 2017

The Greater Chennai Corporation has identified 141 buildings as unfit for occupation in Royapuram and issued demolition notices to the property owners. Several notices have already been issued to building owners, calling for demolition. In August 2017, around 13 notices were issued. Officials have informed that out of all property owners, only eight owners have demolished their buildings following the notices till now. There are some legal disputes between tenants and building owners in the remaining unfit structures, causing delay in demolition proceedings. The Corporation has placed warning boards on the buildings as unsafe, add officials. In the past, the…

Tamil Nadu RERA gets a permanent office after a long delay
November 6, 2017

After more than four months of notification of Real Estate (Regulation and Development) Act (RERA) rules, the Tamil Nadu government has finally established a permanent office at Egmore in Chennai. The Authority will now function from the Chennai Metropolitan Development Authority's (CMDA) second tower on Gandhi Irwin Bridge Road. As of now, the state's regulator was operating from the CDMA office located at Thalamuthu-Natarajan Maaligai. It should be noted that the Tamil Nadu Real Estate Regulatory Authority (TNRERA) takes care of all real estate activities under the Act for Andaman and Nicobar Islands. The authority was established in the last…

Tamil Nadu allots over Rs 1 cr for road extension projects
November 5, 2017

The Tamil Nadu Highways department has recently allocated a fund of Rs 1.1 crore to ease traffic congestion in the long pending road extension project at Pallavaram-Kundrathur road, stretching 7 km long. The existing 7 km stretch is proposed to have a four-way facility to decongest road traffic. The first phase of the project including land acquisition is underway. Officials state that the project would benefit the residents of Pallavaram, Anakaputhur, Pammal, Thandalam and Minjur as well. Due to urbanisation in Moulivakkam, Mugalivakkam, Gerugambakkam and Kovur, the number of vehicles plying on the roads has increased manifold. The extension would…

Chennai collects Rs 524 cr as tax in H1 2017
November 4, 2017

The Greater Chennai Corporation has generated a total of Rs 523.48 crore as property and professional tax during the first half of 2017, ending June. The corporation has recorded an increase of Rs 440.26 crore this year as compared to the same period a year ago. This year, the property tax and professional tax collected was Rs 366.04 crore and Rs 157.44 crore respectively. In the first half of 2016, the property tax and professional tax collected was Rs 57.25 crore and Rs 25.07 crore respectively. The corporation was supposed to make tax rates uniform across the city's 15 zones…

Tamil Nadu RERA: 132 realty agents registered till now
November 1, 2017

As per the latest information available on the Tamil Nadu RERA website, a total of 132 real estate agents have successfully registered under the Real Estate (Regulation and Development) Act (RERA) since its notification. The Tamil Nadu government had notified rules along with its RERA website for online registration of ongoing projects in the state. Out of all registered agents, 84 agents have registered under the category of firms and the rest have enrolled as individuals till October 23, 2017. Over 20 registrations were made in the month of September and October. The registration certificate is valid for five years…

Tamil Nadu RERA: Authority revises fee for filing complaints
October 26, 2017

Tamil Nadu Real Estate Regulatory Authority (TNRERA) has revised registration fee for filing complaints against errant developers and brokers across the state under the Real Estate (Regulation and Development) Act (RERA). The Authority has raised the fee to Rs 500 from Rs 100. The revised rates are applicable from October 23 onwards. As of now, over 100 complaints have been registered with the state regulatory authority. RERA rules have made provisions for aggrieved buyers to make any complaint with the Authority against builders and agents. The Tamil Nadu RERA office is located at the CMDA office on the third floor…

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…

Page 1 of 56