Chennai:
Real estate developers are eyeing the slum clearance board lands to help government develop housing projects under ‘Housing for All;’ scheme but the hitch is the new Transferable Development Rights Policy, which is being formulated by the government.
Addressing reporters after releasing a Vision 2025 document for Confederation of Real Estate Developers Association of India (CREDAI), Chennai Chapter, Suresh Krishn, the president of CREDAI, said that they are awaiting the new TDR policy which is being formulated by the government before being part of the public private partnership to develop the lands..
He said that government lands are available with Slum Clearance Board for constructing affordable homes. “We will be helping the government in developing it once the policy on TDR is finalised. We also have issues pertaining to guideline value in TDR,” said Krishn.
Interestingly, TDR is a mechanism where the government compensates the owner of the land by entitling him with floor space index through a development rights certificate after taking over his land.
Although TDR came into being after Secod Master Plan was implemented by Chennai Metropolitan Development Authority, the biggest issue is there is no mechanism or provision on how to encash it or sell it. Planners feel that TDR could be successful if it has a legal backing and a dispute redressal mechanism.
He also said that CREDAI is looking forward to single window clearance where all approvals will be in one place. “Now, we have to go to 20 different departments to get approval. Once single, single window scheme comes into being all approvals will be in one place,” he said.
He also said that the focus of CREDAI is to protect consumer interest and hoped that once the Moulivakkam building is brought down then flat owners would be compensated by the government. “Government will come out with a policy in supporting the buyers,” he said.
He also said that CREDAI is planning to desilt a water tank and beautify a crematorium under the Corporate Social Responsibility activities.
CREDAI is also planning to set up material testing laboratory in association with Anna Uniersity, Kings Institute to test new technologies.
Credai vision 2025 Factfile:
1. Credai, Chennai to standardise format of home buyer agreement and plans to become the first in the country to implement real estate bill.
2. A committee to create a database of approved vendors and consultant and negotiate with them on the pricing of raw materials.
3. A legal committee will be formed to appoint legal advisor for CREDAI Chennai on retainer basis.
4. ,CREDAI is planning to develop skills of its staff and labourers under skill development initiatives
5. Credai will form a database of all officials, building materials and suppliers which will serve as an one point reference accessible through website
Real estate developers are eyeing the slum clearance board lands to help government develop housing projects under ‘Housing for All;’ scheme but the hitch is the new Transferable Development Rights Policy, which is being formulated by the government.
Addressing reporters after releasing a Vision 2025 document for Confederation of Real Estate Developers Association of India (CREDAI), Chennai Chapter, Suresh Krishn, the president of CREDAI, said that they are awaiting the new TDR policy which is being formulated by the government before being part of the public private partnership to develop the lands..
He said that government lands are available with Slum Clearance Board for constructing affordable homes. “We will be helping the government in developing it once the policy on TDR is finalised. We also have issues pertaining to guideline value in TDR,” said Krishn.
Interestingly, TDR is a mechanism where the government compensates the owner of the land by entitling him with floor space index through a development rights certificate after taking over his land.
Although TDR came into being after Secod Master Plan was implemented by Chennai Metropolitan Development Authority, the biggest issue is there is no mechanism or provision on how to encash it or sell it. Planners feel that TDR could be successful if it has a legal backing and a dispute redressal mechanism.
He also said that CREDAI is looking forward to single window clearance where all approvals will be in one place. “Now, we have to go to 20 different departments to get approval. Once single, single window scheme comes into being all approvals will be in one place,” he said.
He also said that the focus of CREDAI is to protect consumer interest and hoped that once the Moulivakkam building is brought down then flat owners would be compensated by the government. “Government will come out with a policy in supporting the buyers,” he said.
He also said that CREDAI is planning to desilt a water tank and beautify a crematorium under the Corporate Social Responsibility activities.
CREDAI is also planning to set up material testing laboratory in association with Anna Uniersity, Kings Institute to test new technologies.
Credai vision 2025 Factfile:
1. Credai, Chennai to standardise format of home buyer agreement and plans to become the first in the country to implement real estate bill.
2. A committee to create a database of approved vendors and consultant and negotiate with them on the pricing of raw materials.
3. A legal committee will be formed to appoint legal advisor for CREDAI Chennai on retainer basis.
4. ,CREDAI is planning to develop skills of its staff and labourers under skill development initiatives
5. Credai will form a database of all officials, building materials and suppliers which will serve as an one point reference accessible through website
No comments:
Post a Comment