Chennai: A potential rise in sales of independent homes following a new building rule

The government of Tamil Nadu now permits stilt plus 2-floor buildings of up to 10 metres. It opens up lucrative opportunities for individuals who dream of owning independent homes and villas in Chennai. This new building rule opens up stilt space for parking, alongside speeding up handovers. Buyers seeking to own villas may find this option more valuable.

According to the chairman of the DTCP committee at the Builders Association of India, S Ramprabhu, this new rule is in place to increase the rising demand for independent homes in the city. Many property investors and developers also expect this move to generate fresh demand for plotted developments within Chennai and its suburbs.

The 2024 self-certification program was designed to aid the income and economically weaker sections by offering instant building permits through a single-window online system. Originally, it applied to G plus 1 constructions up to the height of 7 metres, with a built-up area of 3500 sq. ft. on land of up to 2500 sq. ft. Since its launch, over 1 lakh citizens have benefited from this facility.

This is great news for builders and property developers as the new rule entails faster approvals, lower costs and a streamlined single-window process. As for customers, they will benefit from the transparent guidelines, time-efficient process, convenience of online application and instant download of approved plans.

Source: Economic Times