CMDA to Study Housing Demand and Supply

Chennai Metropolitan Development Authority (CMDA) will conduct a study to assess the housing demand and supply patterns in Chennai Metropolitan Area (CMA). The study will be conducted by a consultant hired by CMDA and will support the design of appropriate policies that can be supported through the third master plan, which is currently being prepared with the help of the World Bank. The study will address the following questions: How many houses will Chennai require till 2046?Will there be an adequate supply of housing stock within the city?What are the challenges and specific requirements of unplanned areas in the city? The study will also identify the socioeconomic groups that need to be targeted for housing interventions. The housing options will depend on unit size, tenure, urban form, and location, amongst others. The study is expected to be completed in a year. The findings of the study will be used to develop a comprehensive framework for meeting the projected housing requirements over the third master plan period. Background Chennai is one of the fastest growing cities in India. The population of CMA is expected to reach 12.7 million by 2046. This growth is putting a strain on the city's housing stock. The demand for affordable housing is particularly high in CMA. The average household size in CMA is 4.5 members. This means that a large number of households need affordable housing options. The supply of affordable housing in CMA is limited. The majority of the housing stock in CMA is in the high- and middle-income segments. This has led to a shortage of affordable housing options for low- and middle-income households. Impact of the Study The findings of the study will be used to develop a comprehensive framework for meeting the projected housing requirements over the third master plan period. The framework will address the challenges of housing demand and supply in CMA. The framework will also identify the socioeconomic groups that need to be targeted for housing interventions. The housing options will depend on unit size, tenure, urban form, and location, amongst others. The study is expected to have a significant impact on the housing sector in CMA. The findings of the study will help to improve the availability of affordable housing options for low- and middle-income households. Also Read Deregistration okayed for two projects in state by MahaRERA 30000 mn Modi Govt's Greenfield Expressway Gift