The State government has decided to amend development regulations and development control rules to make it mandatory for the developers, promoters and land owners to pay premium FSI charges using Transferable Development Rights (TDR) and Special Transferable Development Rights (Special TDR), said Housing and Urban Development Minister Udumalai K. Radhakrishnan.
Paying premium FSI charges was so far optional and developers paid it only as money. As per the new proposal, FSI is mandatory and the government will get more land without any hassle. “This will encourage land owners to give land for road extension and other infrastructure development through gift deal. This will also give an opportunity for private parties in the development of slum development,” the Minister said.
New housing scheme
The government would construct 2,284 residential quarters in Chennai, Tiruvallur, Kancheepuram, Vellore, Coimbatore, the Nilgiris, Salem, Namakkal, Krishnagiri, Erode, Tirupur, Madurai, Karur, Tirunelveli and Sivaganga districts at a cost of ₹265.37 crore.
Mr. Radhakrishnan also announced a housing scheme for government employees. Tamil Nadu Housing Board will construct 248 quarters in Ayapakkam near Ambattur for the benefit of A and B grade government employees. The project cost is ₹122.50 crore.
Since the Primary Co-operative Housing Societies were not able to mobilise adequate funds, Tami Nadu Co-operative Housing Federation Ltd would release ₹100 crore to them. “The financial assistance will help the Primary Co-operative societies to lend housing loans,” he said.
