The growth curve in Chennai real estate
Real Estate

The growth curve in Chennai real estate

Often referred to as the Gateway to South India, the popularity of Chennai has been facilitated by the city’s vibrant culture, availability of jobs and a range of infrastructure initiatives being taken by the government, including a greater ease of commuting for its citizens.

“The existing metro railway (Blue Line or Line 1), which stretches from Chennai International Airport to Wimco Nagar Depot, has emerged as a popular choice for people to commute,” says MSPrasanth, Deputy Commissioner (Works), Greater Chennai Corporation.“As a result, Chennai Metro Rail Ltd (CMRL) is proposing to procure additional rolling stock. Additionally,two new metro lines that are currently under construction will improve the ease of transit.Once these projects are completed, we will indeed start to see the network’s effects kicking in, increasing the mode share of public transport.”

In addition to decongesting the city’s roads, this initiative will also impact the growth of real estate, more so owing to the FSI benefit. The Tamil Nadu Housing and Urban Development Department has passed an amendment to provide additional FSI along the metro corridor. Builders have to pay only 25 per cent of the guideline value to availpremium FSI for non-high-rise buildings and 20 per cent of the guideline value for high-rise buildings. The rule is applicable to properties located within a distance of 500 m,measured from the centre line of the corridor.

The transformation of Chennai has also brought into focus some of its pertinent problems like flooding, which causes loss of life and property. Addressing this issue, Shashirekha Ramanathan, Chief Architect, Space Studio Chennai, says, “I feel we must reclaim our natural water resources and immediately end encroaching upon them. This calls for both a larger policy level intervention and awareness at the level of individual consciousness. The consumer should be asking the right questions prior to investing in or buying homes. In places that are being developed, we could build on stilts and take measures to raise the ground levels adequately.”

To read the full article, CLICK HERE.

Often referred to as the Gateway to South India, the popularity of Chennai has been facilitated by the city’s vibrant culture, availability of jobs and a range of infrastructure initiatives being taken by the government, including a greater ease of commuting for its citizens.“The existing metro railway (Blue Line or Line 1), which stretches from Chennai International Airport to Wimco Nagar Depot, has emerged as a popular choice for people to commute,” says MSPrasanth, Deputy Commissioner (Works), Greater Chennai Corporation.“As a result, Chennai Metro Rail Ltd (CMRL) is proposing to procure additional rolling stock. Additionally,two new metro lines that are currently under construction will improve the ease of transit.Once these projects are completed, we will indeed start to see the network’s effects kicking in, increasing the mode share of public transport.”In addition to decongesting the city’s roads, this initiative will also impact the growth of real estate, more so owing to the FSI benefit. The Tamil Nadu Housing and Urban Development Department has passed an amendment to provide additional FSI along the metro corridor. Builders have to pay only 25 per cent of the guideline value to availpremium FSI for non-high-rise buildings and 20 per cent of the guideline value for high-rise buildings. The rule is applicable to properties located within a distance of 500 m,measured from the centre line of the corridor.The transformation of Chennai has also brought into focus some of its pertinent problems like flooding, which causes loss of life and property. Addressing this issue, Shashirekha Ramanathan, Chief Architect, Space Studio Chennai, says, “I feel we must reclaim our natural water resources and immediately end encroaching upon them. This calls for both a larger policy level intervention and awareness at the level of individual consciousness. The consumer should be asking the right questions prior to investing in or buying homes. In places that are being developed, we could build on stilts and take measures to raise the ground levels adequately.” To read the full article, CLICK HERE.

Next Story
Infrastructure Urban

KEI Industries Faces Rs 80 Mn Daily Loss Amid Wage Dispute

KEI Industries Limited, one of India's prominent manufacturers of wires and cables, is encountering significant financial challenges, with reported losses amounting to Rs 8 crore per day. The company's operations have been severely impacted by a wage dispute, exacerbating its financial woes amidst broader economic pressures. The wage row has led to disruptions in KEI Industries' production and operational efficiency, affecting its ability to meet market demands and maintain profitability. This situation underscores the critical nature of resolving labour disputes swiftly to mitigate adverse i..

Next Story
Infrastructure Urban

Hyderabad Aims for World-Class Status

Telangana Chief Minister K Chandrasekhar Rao emphasized the state government's commitment to developing Hyderabad into one of the world's best cities. During a recent event, Rao highlighted several key initiatives aimed at enhancing the city's infrastructure, urban planning, and overall quality of life. He noted that the government's comprehensive approach includes substantial investments in various sectors to ensure sustainable growth and development. Rao detailed plans for significant improvements in transportation, including the expansion of metro rail services, upgrading road networks, an..

Next Story
Infrastructure Urban

Ferrari's First Electric Car Debuts

Ferrari is set to launch its first fully electric vehicle (EV), with a price tag exceeding $500,000, as reported by industry sources. This move marks Ferrari's entry into the electric vehicle market, aligning with the global shift towards sustainable mobility and reducing carbon emissions. Ferrari, electric vehicle, $500,000, sustainable mobility, carbon emissions. The new electric Ferrari, expected to debut in 2025, promises to uphold the brand's legacy of high performance and luxury. The vehicle will feature advanced technology, ensuring it delivers the iconic Ferrari driving experience desp..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram