CMDA working on third master paln of Chennai

Unlocking land potential through increased floor space index (FSI) and affordable processed land are essential to tackling Chennai’s housing and office space shortage, according to Anshul Mishra, member secretary of the Chennai Metropolitan Development Authority (CMDA). Speaking at Infra Next 2024 organized by CII Chennai Zone on Wednesday, Mishra emphasized that resolving key urban issues would be crucial as Chennai gears up to become a major contributor to Tamil Nadu's vision of a $1 trillion economy by 2030. During the summit, a CII-JLL white paper on the Transformation of Industrial Estates was also released. Srivats Ram, chairman of CII Tamil Nadu State Council, emphasized that Chennai's rapid industrial and urban growth is supported by significant infrastructure development. Sanjay Chugh, city head and director at Anarock Property Consultants Pvt Ltd, pointed out some reasons for the limited number of new residential project launches in Chennai. They are: 1 Acquiring suitable land for residential development can be a challenge due to high land costs, disputes, and limited availability of land in prime areas. 2 If required physical and social infrastructure (roads, schools, hospitals) is not in place or planned for certain areas, developers may choose to delay launches until conditions improve. 3 Developers in Chennai prioritise completing ongoing projects rather than launching new ones to restrain the inventory of unsold units.
 

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