Chennai to become world class city by 2026

For the first time, the restriction on Chennai’s vertical growth has been lifted. In a vision for the next 18 years, the city has a new master plan. From now on, the Chennai metropolitan development authority will even permit hundred floors if the building is abutting a hundred feet road. Earlier, a ceiling and only 29 floors were permitted. The Chennai real estate industry is delighted. “This means better lighting, better ventilation, and fantastic designs due to the vertical growth,” said T Chitty Babu, CMD, Akshaya Homes.

Those who live in smaller homes will also be benefited by the city’s master plan. The floor space index or FSI has been altered from 1.5 to 1.75, up to a maximum of 450 square feet. It means that those who have a plot of say 200 square feet could build a house up to 350 square feet on two floors. And there could be more residential areas along the city’s mass rapid transport system, as the FSI has gone up from 1.5 to 2. That means they will have thirty percent more space to build. And ten percent of homes ought to be earmarked for economically weaker sections in all private projects developed in a hectare or above. “Our aim is to provide accommodation to the rising population of the Chennai metropolitan area,” said Susan Mathew, vice chairperson, CMDA. Chennai will soon join the high skyline club of Delhi, Mumbai and Gurgaon to become a world class city.

Source: indianrealtynews.com