Chennai Builders Monopoly Ended
The monopoly of private builders is ended now in Chennai's realty after Tamil Nadu Government has announced plans to set up a 311-acre satellite township near Chennai to provide affordable housing.
Middle class Home buyers are struggling to buy a home from the private builders due to the sky scrapping prices. We have to dodge the builders because there is no option. Now builders lost their monopoly, they have to step down and start negotiating their prices.
Now, we the people of Chennai can dictate terms with Private builders. Thanks to Tamilnadu CM J.Jayalalitha, and TNHB.
The Tamil Nadu Government has announced plans to set up a 311-acre satellite township near Chennai to provide affordable housing. A number of housing projects are also to come up in the city to meet the needs of all the segments of the society.
The Chief Minister, Ms Jayalalithaa in a suo motu announcement in the Assembly said that the Rs 2,160-crore satellite township would come up at Thirumazhisai, to the west of Chennai on the highway to Bangalore. The project on the land belonging to the Tamil Nadu Housing Board will be developed once the approach road is established. Over 12.87 acres will have to be acquired for the approach road and the Government will take up the issue in consultation with the land owners.
The township will be distributed across Chembarambakkam, Kuthambakkam, Parvatharajapuram, Narasingapuram and Vellavedu villages. The township with 12,000 apartments will have the required physical and social infrastructure and amenities. The units will be affordable to a wide segment including the economically weaker sections, lower and middle income groups.
This was among the projects announced to enhance the supply of housing to the lower and middle income group segments. An Rs 100-crore residential project near Ashok Pillar will come up on 3.73 acres available with the TNHB. Over 554 residential units will come up on the multi-storeyed structures, she said.
A mixed use commercial and residential project is to come up on 5.6 acre belonging to the TNHB on the Inner Ring Road adjacent to the Koymabedu Mofussil Bus Terminus.
An Rs 116-crore multi-storey, commercial complex of 4.66 lakh square feet will come up here along with an Rs 33-crore, 120-apartment residential project of about 1.44 lakh sq ft.
An Rs 100-crore office complex will be established at Nandanam on 15.78 ground belonging to the Tamil Nadu Slum Clearance Board. This 17-floor green building will be rented out and the income will be used for the maintenance of the board's tenements.
The Chief Minister announced that with the TNHB in its in Golden Jubilee year, the Government has decided to increase to 3 per cent the allocation in the housing board projects to the differently-abled.
As of now, 1 per cent of the projects are earmarked for the differently-abled.