Chennai landscape to change in 2013
Chennai- The Government approved highest number of residential and commercial projects for construction ever in the year 2012.
This will result in change of city’s landscape and horizon. Chennai Metropolitan Development Authority (CMDA) has given its consent to 549 special buildings and 88 multi-storeyed and IT buildings.
In next few months, the city will show growth in number of construction of buildings. The city saw only 431 special buildings and 39 IT and multi-storeyed buildings in the year 2011
It includes special buildings like commercial and residential projects in Chennai having more than two floors, residential buildings with more than six housing units and commercial buildings which exceeds a floor area of 300 square metres. It also embraces multi-storeyed buildings which exceeds four floors and are 15.25 metres or more high.
The approvals in 2012 fulfilled dreams of many builders. The factors which contributed to this increase in approvals are the city’s second master plan which has considerably relaxed the minimum width of a road on which buildings can be built, use of premium FSI (floor space index), special buildings are now permitted on roads which are both 10 and 9 metres wide. These factors increased the number of applications for special buildings.
Maximum approval of special buildings were seen in areas such as Mylapore, Adyar, Egmore and Nungambakkam. In these areas the guideline value is less as compared to market value of the land. Moreover FSI is also permitted in these areas. The collection of charges is done at the rates prescribed by the CMDA. This amount is remitted into a government account to be allotted separately for infrastructure development in that area.
One last factor which can also be a reason for rise in number of planning permission applications is the entry of many new developers from other parts of the country in Chennai.
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