Trend of re-developing old TNHB apartments is growing
Lack of adequate open space has led the builders to re-development of old apartments.It is estimated that in the past five years, about 10% of Tamil Nadu Housing Board (TNHB) promoted apartments and houses in sizes ranging from 300 sq ft to 1,500 sq ft have been re-developed. Most of these buildings, owing to poor quality construction and lack of proper maintenance, have falling balconies, leaking toilets and walls with seepage.
“Builders show interest in re-developing TNHB apartments because most of them are in prime locations and abut roads that are at least 60 ft wide. They have the best of transport, drinking water, sewerage and drainage facilities. Secondly, these properties have clear title deeds and are free from litigation,” said T Udaya Kumar, MD, Landmark Construction, which has completed re-development of two apartment complexes and is doing another 17 projects at present.
Many organized builders, including Landmark, Ramaniyam, Kgeyes, Nutech, Harmony and GRN, are already in this fast-growing field. It is estimated that in the past five years, about 10% of TNHB apartments and houses have been re-developed. Most of these buildings, owing to poor quality construction and lack of proper maintenance, have falling balconies, leaking toilets and walls with seepage.
“Since old buildings do not have lifts, elderly people face difficulty in climbing steps,” said S Sankararaman, who has entrusted the re-development of his apartment on LB Road in Tiruvanmiyur to a private builder. In the late 1970s and early 1980s, the TNHB developed several self-sustaining satellite townships like Anna Nagar, K K Nagar, Ashok Nagar, Besant Nagar, Adyar, Shastri Nagar, Tiruvanmiyur and Tambaram. In the mid-segment, the Board developed housing colonies in Mogappair and Velachery.
Source: Times of India
Chennai, Chennai Properties, re-developing apartment, re-developing TNHB apartments, Tamil Nadu Housing Board, Tamil Nadu Housing Board (TNHB), TNHB apartments
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