Chennai development body to publicise survey number disputes
October 14, 2018

To make things clear and transparent for homebuyers, the Chennai Metropolitan Development Authority (CMDA) will soon make disputes over survey numbers public. The move will prevent property owners from hiding dispute-related information from the prospective buyer while selling land in and around the city. The development body will soon replace their outdated predecessors with the GIS-enabled land-use maps on the CMDA portal, which will have details of ownerships disputes. As per CMDA sources, the Authority has upgraded the new maps in the Chennai Metropolitan Area (CMA) on GIS. According to a CMDA official, a survey number will allow the person…

Greater Chennai civic body to announce revised property tax rates
September 18, 2018

After the directive passed by Madras High Court (HC) in June 2018, the Greater Chennai Municipal Corporation (GCMC) has decided to revise the property tax rates. In a bid to introduce the new tax rate system, the civic body has asked the residents to submit a self-declaration of the built-up area of their properties. Out of 12 lakh registered properties, only eight lakh property owners have submitted the self-declaration document. R Lalitha, Deputy Commissioner, Revenue, GCMC, has shared that a notice about tax revision will be issued to all property owners. Homeowners who have already paid taxes will have to…

Construction on Chennai Metro Phase-2 to commence soon
September 16, 2018

Chennai Metro Rail Limited (CMRL) is likely to commence the construction work for Phase II without procuring the centre’s nod for the same.  CMRL officials state that the work for the Phase II shall begin soon after the disbursement of loan from the Japan International Cooperation Agency (JICA). The Tamil Nadu government shall provide further aid in case of paucity of funds. The officials are expectant to receive the required sanction from JICA within a month or two. Chennai Metro Phase II will run on a stretch of 108 km and will have 116 metro stations in total. There will…

Nearly 10,000 housing units are delayed in Chennai: Report
September 5, 2018

According to an industry report, about 10,000 housing units worth Rs 6,500 crore are delayed in Chennai. It was observed that these delayed housing units are a part of several residential projects launched before 2013. The report further reads that a total of 5,75,900 flats worth Rs 4,64,300 crore are running behind their schedule in top seven cities across the country – Bangalore, Chennai, Hyderabad, Mumbai Metropolitan Region (MMR), Delhi NCR, Kolkata and Pune. Most of them are at different stages of construction. Maximum stalled projects are located in MMR and Delhi NCR with 2,10,000 and 2,00,000 units, respectively. Prolonged…

Press Release

1.9 mn sq ft retail space added during H1 2018: CBRE
September 4, 2018

Approximately 1.9 mn sq ft retail space added during H1 2018: CBRE4th Sept, 2018 CBRE South Asia Pvt Ltd, announced the findings of its latest report ‘India Retail Market View H1 2018.’ As per findings, the H1 2018 saw fresh retail supply of 1.9 mn sq. ft. across seven cities led by Chennai, Hyderabad and National Capital Region (NCR). The period witnessed launch of VR Mall (1 mn sq ft), Chennai, L&T Next and L&T Next Galleria (totaling 0.65 mn sq. ft.), Hyderabad, and 32nd Avenue (0.25 mn sq. ft.), Gurgaon-NCR.

Tamil Nadu revises guidelines for property tax collection officials
August 28, 2018

In a bid to introduce a revised tax system, Chennai Corporation has sent an SMS to homeowners asking them for a self-declaration of their property details for tax purposes. The State has also issued detailed guidelines in this regard to all local bodies asking them to prepare a list of all the properties under housing society, slum clearance board, housing board, registers maintained by municipalities and corporations and ration cards maintained by civil supplies department to check omissions in the evaluation process. The State has also set a deadline to track the same. The concerned authorities will employ field staff…

Tamil Nadu RERA: List of approved projects and agents
August 21, 2018

As of now, 28 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, 643 real estate projects have successfully registered under the Act. About 314 realty agents have received the registration certificate, valid for five years. Interested homebuyers…

Chennai Metro Phase 2 to be extended till Poonamallee
August 14, 2018

The Chennai Metro Rail Limited (CMRL) has decided to extend the city's metro phase II project from Valasarawakkam to Poonamallee. The proposed corridor will run for nearly 13 km having 10 stations, including Karambakkam, Porur Junction, Sri Ramachandra Hospital, Iyyapanthangal Bus Depot, Kaatupakkam, Kumananchavadi, Karayanchavadi, Mullai Thottam, Poonamallee Bus Terminus and Poonamalle Bypass. The decision to extend the route would benefit thousands of commuters residing in the western part of the city. The plan of the extension was originally not part of the phase II project. The new route would be completed at a cost of Rs 3,850 crore. Chennai…

Tamil Nadu enables QR code in online encumbrance certificates
August 7, 2018

Tamil Nadu is set to launch the facility of applying an encumbrance certificate online and enable it with a QR code. The system is anticipated to provide relief to people seeking an encumbrance certificate since the QR code will contain the name of the sub registrar office, registration officer, date and time of issuance of the certificate. People will be no longer need to visit the sub-registrar offices, as the property certificate enabled with QR code will be available online.   The QR code will replace the manual seal and signature of the sub-registrar authorising the encumbrance certificate and will be readable by electronic devices. Once the facility is launched, Encumbrance Certificate will be issued within minutes. The manual process took about a week's time. Sources from the registration department shared that as per the rules of Registration Act, 1908, the online facility needs an amendment. As per the current rule…

NHAI proposes Chennai-Chittoor Greenfield Expressway
July 27, 2018

The National Highways Authority of India (NHAI) has proposed a new Greenfield highway from Thatchur (near Chennai) to Chittoor in Andhra Pradesh. The 126.5 km-long six-lane highway will intersect Pulikundram reserve forest in the Red Hills range of the Tiruvallur division. According to the official records, a minimum of 32 hectares of forest area will have to be cleared for the project. Around 885.5 hectares of land, 525 hectares in Andhra Pradesh and 360.5 hectares in Tamil Nadu, will be acquired for the project. Of the land acquired, a major portion (64 percent) is identified as agricultural, followed by barren (15 percent) and forest…

Around 200 complaints registered against developers: TNRERA
July 27, 2018

According to the official sources, as many as 200 complaints have been received by the Tamil Nadu Real Estate Regulatory Authority (TNRERA) against builders whose details are yet to be released.  Most of the grievances received were related to delay in possession, unfinished common areas and refusal to refund. According to the list, of the 200, 116 complaints have been filed against a project planned at Medavakkam in Chennai. In 2017, the total number of complaints registered with the State’s regulator was 147, while in 2018, 66 complaints have been filed to date. An official said that these complaints are…

Tamil Nadu mandates registration of rental deeds within 90 days
July 26, 2018

The Tamil Nadu government has now mandated the registration of all tenancy deeds with the Rent Authority within a period of three months or 90 days. The State government has altered the norms provisioned under the Tamil Nadu Regulation of Rights and Responsibilities of Landlords and Tenants Act 2017. With this amendment, all landlords will now have to pay the cess applicable. The decision was taken as most of the owners have been skipping their rental agreements against levy of stamp duty and registration fee. As per the provision of the Indian Evidence Act, Indian Registration Act and Stamp Act,…

TNRERA registers 113 real estate agents in H1 2018
July 14, 2018

A total of 113 real estate agents have been registered with the Tamil Nadu Real Estate Regulatory Authority in H1 2018. As per the TNRERA data, out of the total, about 81 have enrolled as individual agents. A proper application procedure is being followed for registering real estate agents who majorly belong to Chennai, and other parts of the State such as Madurai and Coimbatore. In June last year, The Real Estate (Regulation and Development) Act, 2016 came into effect countrywide. Although delayed, Tamil Nadu soon notified its rules and implemented the Act. As per TNRERA, real estate agents should…

Tamil Nadu proposes nine greenfield projects
July 13, 2018

The Tamil Nadu government has decided to add nine greenfield infrastructure projects to improve the overall transport network of the State. Out of all planned infra projects, the Salem-Chennai highway is the most ambitious project of the State government. The proposed greenfield projects in Tamil Nadu are Chennai- Salem Expressway Karur- Coimbatore Melur- Thirupathur- Pudukottai Thanjavur Kumbakonam Sirkazhi Mahabalipuram Pondicherry Dindigul Oddanchatram Pollachi Stretch Madurai Dhanushkodi Chennai Chittoor Road Hosur Ring Road All these road projects would be developed as a part of the Bharatmala project. Under this project, Tamil Nadu will get nearly 570 km of new roads connecting…

Land acquisition of Chennai Metro Phase 2 begins
June 26, 2018

The Tamil Nadu government has started the land acquisition for the proposed 48 stations of the Chennai Metro Phase 2. Estimated to be developed in Rs 85,000 crore, the Chennai Metro Phase 2 will cover around 107.5 km. The second phase of Chennai Metro will have three corridors - Madhavaram-Siruseri, Chennai Mofussil Bus Terminus (CMBT)-Lighthouse and Madhavaram-Sholinganallur. The State government has initiated the land acquisition process for 86 acres of land for the 55-km route proposed under the Phase 2. Furthermore, notices has been issued to the owners in Madhavaram, Sembium, Perumbur, Otteri, Sterling Road and near Gemini flyover in…

Chennai Metro Phase 2 land acquisition begins
June 25, 2018

Chennai Metro Rail Limited (CMRL) has begun the acquisition of land required to build the 107.55km metro project under phase-2 and residents are being issued notices in this regard. The project is awaiting Centre’s approval and is aimed at linking the northern and southern suburbs with the city centre at an estimated cost of Rs85,047 crore.   A CMRL official shared that they have started issuing notices to owners of properties located in Madhavaram, Perumbur, Sembium and Otteri, where corridor 3 and 5 is planned. Corridor 3 will link Madhavaram Milk Colony with Siruseri Sipcot, which will pass through significant…

Tamil Nadu RERA revises fee for filing complaints
June 20, 2018

The Tamil Nadu Real Estate Regulatory Authority (Tamil Nadu RERA) has increased the fees for filing complaints against the developers and projects under the Real Estate (Regulation and Development) Act (RERA). The fee revision comes into immediate effect. Now, for making complaints with the Authority under Section 31, RERA Act, the Authority will charge Rs 1,600. The hiked fee includes an additional payment of Rs 600 towards postage charges. Section 31 reads that any aggrieved homebuyer can file a complaint with the authority for any violation of the provisions of the Act. Similarly, the fee has been increased for the…

Regulations for Tamil Nadu RERA notified
June 18, 2018

The Tamil Nadu government has notified regulations of the Tamil Nadu Real Estate Regulatory Authority (TNRERA). The notified regulations unlock the procedures to be taken into consideration while registering ongoing real estate projects, filings complaints and grievances and solving the cases under the Act. Officials have shared that the recently notified regulations have provided a format which needs to be served at the time of withdrawing the 70 percent deposits from the bank account at different stages of construction of the project. Now, the complainant can check the status of all the cases pending or resolved by the real estate…

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