• icon
  • icon
  • icon
  • icon

Skyscrapers to dot suburbs soon

If the state government heeds to the proposals of Chennai developers, the city’s suburbs will soon be dotted with skyscrapers while the supply of office space within Chennai will go up.

Also, multi-level parking facilities could come up in residential apartments solving the parking problems of most city folks.

“Premium FSI space in DTCP areas, conversion of IT projects into office space and extension of parking space are among the amendments that we have sought to the development control rules (DCR),” said Mr T. Chitty Babu, president, Confederation of Real Estate Developers Association of India (Credai), Chennai.

“With Chennai suburbs going in for expansion, there is a need to encourage growth in these areas through vertical route. For this, premium FSI space in DTCP areas is needed,” he said at a function unveiling a new Credai logo.

Also, conversion of 1 crore square feet of IT space lying idle in the state into office spaces is another request from Credai to CMDA. There is hardly 2 lakh square feet offtake of IT space per quarter, Mr Babu pointed out.

Another key demand is to allow multi-level and stand-alone car parking facilities in residential areas. For now, such facility is allowed only for commercial projects.

The residential demand in Tamil Nadu has been strong following the entry of companies into the state. “There is an influx of people from outside as more companies are moving into the state,” the Credai chief said.

This trend is established by a recent study that shows more non-Tamils buying residential units in the state. “About two years ago, 90 per cent of homes was bought by Tamils. But now, the ratio is 60:40 with 40 per cent non-Tamils in the state buying up properties,” Mr Babu said.

The national chapter of Credai has come out with a code of conduct for developers and has opened a consumer redressal forum. Consumers can mail their grievances to consumerredressalforum@credaichennai.org.

Your Comment
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
refresh