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Chennai Mega Region Comes Up With New High Rise Flats

Topic: Real EstatePublished May 9, 2012

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Chennai town expanding at a quick pace, expectations for higher infrastructure are moving high. The State Government is mulling the CMDA’s proposal to declare Chennai Mega Region for higher regional designing on the lines of Mumbai, Bangalore, Delhi, Kolkata and Hyderabad since the Chennai Metropolitan space (CMA) broaden to 1,189 sq km was declared four decades ago. Chennai’s second master plan has foreseen larger development outside the Chennai Metropolitan Area along the Rajiv Gandhi Salai (IT corridor), The Grand Western Trunk Road and Grand Southern Trunk Road in areas around Sriperumbudur, Tiruvallur, Maraimalai Nagar are among others. Sources said the CMA space are going to be broaden up to 8,000 sq km. The CMDA has already submitted a preliminary report back to the government during this regard. The Tamil Nadu Housing Board has floated tenders to appoint a consultant to prepare a detailed project report for redevelopment of Foreshore Estate into a residential property in Chennai. The Board plans to construct 2,600 apartments in multi-storied residential property in Chennai at Foreshore Estate. In first phase, 1,610 residences are constructed on 21.03 acres and within the second phase the construction of 990 residences are captivated up on 6.49 acres. To develop the second phase, 268 existing residences can ought to be evacuated and destroyed. Two years ago, the Board had evicted over 1,000 families from the Foreshore Estate to facilitate its redevelopment. Old buildings promoted within the year 1960’s were during a dilapidated condition and were pulled down to avert a disaster. Apart from spelling out the marketing strategy of the residential project, will also have to do the structural design of the building in line with the seismic zoning of the area. Facilities like access control, communication tower, safety devices, fire fighting, internal roads and arrangements for special security system will be available on the premises once it is redeveloped. There is 5 forms of flats are going to be created within the initial section.They will construct thirty homes every with 1,800 sq ft and 250 homes every with a vicinity of 1,440 sq ft a senior TNHB official said. Gearing up for big redevelopment arrange within which 2,238 previous rental residences are going to be razed at seventeen totally different locations in Chennai. Most of the residential property in Chennai are located at Nandanam, Kilpauk, Saidapet and Foreshore Estate. The board develop 4,691 high-rise apartment complexes at these locations at a cost of 680 Crore, as stated by Housing Urban Development Minister R Vaithilingam in the assembly. As per TNHB pointers they're going to be rented out to government servants and public. TNHB conjointly construct four hundred rental flats at Anna Nagar West Extension and Thiruvanmiyur at sixty Crore for state servants and general public. The board conjointly carry repairs of its previous rental flats at ten Crore. Minister announced a list of property in Chennai to be taken up by the board. Board construct 3,662 multi-storeyed residential property in Chennai in two phases at 812 Crore at Sholinganallur. Similar property in Chennai will be taken up at Kancheepuram, Madurai, Trichy are some districts at 43 Crore during the current financial year.

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PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in Chennai .

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