TN Housing board to prioritise redevelopment over new projects

09 Mar 2022 CW Team

The Tamil Nadu Housing Board (TNHB) will prioritise the redevelopment of complexes it built three decades ago over finding new land for new projects. It will look into the possibility of establishing new townships through land pooling.

Because of the prohibitive cost, TNHB has only acquired a few land parcels in the last decade. As a result, it proposes to take advantage of the available land by enlisting the help of landowners to redevelop dilapidated TNHB colonies.

The Minister was speaking at Confederation of Real Estate Developers' Associations of India’s (CREDAI) Fairpro property expo, where a new insurance scheme covering over one lakh construction workers and the real estate vision 2030 were unveiled.

He told the media that redevelopment would require the cooperation of existing owners and that the TNHB would hold talks with them.

He further said that the expansion of the Chennai metropolitan area would be carried out in stages.The initial expansion will be less robust than anticipated. In another month, the expansion process should be completed.

The minister said 55 acres of grazing land at Bethel Nagar in Injambakkam could be used to provide alternative housing for encroachers evicted from 164 acres of wetland at Injambakkam due to court orders.

TNHB has the unique ability to create very large neighbourhood schemes, each of which is a self-contained neighbourhood in its own right.

Tamil Nadu Housing Board is one of India's largest institutions, catering to the shelter needs of various income groups. It was a pioneer in developing very large neighbourhood schemes.

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Also read: Tamil Nadu sets up committee to probe Smart City works: KN Nehru

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