Tag: Credai Chennai

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Chennai Developers Request FSI Rule Clarification from CMDA

Representative AI image CHENNAI: Developers are seeking clarification from the Chennai Metropolitan Development Authority (CMDA) regarding the eligibility of projects partially within 500 meters of a metro corridor for concessional Premium Floor Space Index (FSI) charges under the Transit-Oriented Development (TOD) policy. They argue that the current ambiguity is causing delays in project approvals. Credai Chennai has formally requested CMDA for clarity. “If any part of the project site is within the 500-meter boundary, it should qualify for the concession. There’s no necessity for the entire site to be included,” stated S Sridharan, a member of Credai National’s executive committee.…

IndustryLatest Stories

Chennai Developers Warn of Rising Home Prices Due to Material Costs

A ₹1 crore house may soon see a price hike of about 10% due to a more than 23% rise in construction material costs. Industry experts point to escalating prices of gelatin and diesel, linked to the West Asian conflict, and a supply shortage caused by the shutdown of unauthorized quarries. They caution that these increased material costs are likely to be passed on to homebuyers. Recent price adjustments indicate significant rises in various construction inputs such as ready mix concrete (RMC), M-sand, P-sand, aggregates, and materials for road construction. For instance, the price of RMC has surged by ₹300…