The Chennai Metropolitan Development Authority (CMDA) has invited applications from those who intend to buy industrial plots being developed by it at Chithamanur village, near the Maraimalai Nagar industrial estate cluster.
The proposal to create industrial plots at Chithamanur was sanctioned by the CMDA in 2011, but delay in building basic infrastructure and removal of encroachments and the high price quoted rendered it unattractive. As a result there were no takers for the plots, CMDA officials said.
With all the pending issues sorted out, we have now invited applications for selling the industrial plots, which is part of the Maraimalai Nagar industrial development projects, they said.
They said, two years ago, the price of an industrial plot was fixed at Rs.1,060 per sq ft, but it was not well received.
Industrialists argued that the per sq ft price of land for industrial purposes was higher than the prevailing guideline value and the market rates of residential housing plots while normally it was the other way round.
However, the CMDA increased the price of each plot by a few hundred rupees last year and hence, there were no takers for them.
The CMDA has now called for advertisement at a much lower cost of Rs. 827 per sq ft for the plots, a reduction by more than Rs.200 per sq ft, staff at the city planner’s office told The Hindu.
The CMDA has now called for advertisement at a cost of Rs. 827 per sq ft for the plots (a reduction by more than Rs.200 per sq ft)
