Tag: Tamil Nadu

CommercialLatest Stories

Tamil Nadu to Launch Special Vehicle for Co-Working Space

CHENNAI: With the planned expansion of co-working spaces throughout the city as part of the chief minister’s project, the state government has established a special purpose vehicle (SPV) and a private company led by a CEO to oversee these spaces. The SPV will operate independently from the government to facilitate the day-to-day management of the co-working facilities. Participants in the meeting—including officials from CMDA, special projects, and the urban development department—indicated that the chief minister aims for all 30 proposed centers to function seamlessly, regardless of changes in government or departmental leadership. Currently, the only co-working center in Kolathur is…

Latest StoriesRera

20% Extra Deposit for Project Registration Extension: TN RERA

CHENNAI: To protect homebuyers and minimize project delays, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has mandated that developers seeking project registration extensions beyond one year must deposit an additional 20% of the amounts collected from allottees into the designated project account. This directive is issued under Section 7(3) of the RERA Act, 2016, allowing TNRERA to establish terms in favor of homebuyers rather than outright cancellation of project registrations. Officials state this measure ensures that funds collected from buyers are used for construction rather than diverted elsewhere. TNRERA noted that many project delays are due to insufficient funds…

Latest StoriesRegulatory

Tamil Nadu revises property valuation methods

CHENNAI: To improve transparency and fairness in property transactions, the state government has revised the stamp rule framework, introducing the concept of “composite value” for apartments and flats while allowing more flexible guideline value revisions. The new regulations, which take effect from June 23, represent a significant change in property valuation practices in Tamil Nadu. The reforms enable the valuation committee to update guideline values at any time during the year, rather than being restricted to a specific month. “Previously, revisions were limited to October. If a decision was made in April to adjust values, we had to wait. Now,…

IndustryLatest Stories

KSH Infra to spend ₹550 crore on Tamil Nadu logistics park

Representative Image KSH Infra, a developer of warehousing and logistics parks, plans to invest over ₹550 crore to establish its second industrial and logistics (I&L) park in Tamil Nadu, bringing its total investment in the state beyond ₹1,000 crore. Last year, the company entered the southern market with an investment exceeding ₹450 crore to develop its first park on a 50-acre site in Hosur. The new warehousing facility, covering 60 acres, will be located in the Sriperumbudur-Oragadam corridor, with a development potential of 1.6 million sq ft, complementing the 1.25 million sq ft at the Hosur park. “Our vision at…

Latest StoriesRera

Tamil Nadu RERA Bans Flashy Real Estate Ads with New Rules

CHENNAI: Real estate listings claiming plots and homes just three kilometers from Kilambakkam and two kilometers from GST Road, complete with numerous amenities, have saturated social media and highway advertisements. However, following a recent decree from TNRERA (Tamil Nadu Real Estate Regulatory Authority), builders with vague or misleading advertisements may soon face penalties. With this initiative, TNRERA has delivered a clear message to the real estate sector: deceptive advertising practices will no longer be tolerated. The era of unchecked promotional tactics is coming to an end, granting buyers the transparency they deserve. TNRERA now requires that all real estate advertisements—whether…

IndustryLatest Stories

Tamil Nadu launches ‘Deemed NOC’ for planning permits

CHENNAI: Beginning July 1, the state government implemented a time-limited ‘deemed NOC’ system to simplify the process of obtaining No Objection Certificates (NOCs) for planning permissions. This initiative aims to cut down bureaucratic hurdles, enhance transparency, and expedite project approvals, particularly in the housing and infrastructure sectors. “This is the first instance of a state introducing such a system. While the Government Order was issued on October 24, the specific regulations for deemed NOCs are now available. This is a positive development for the housing and related industries, potentially saving three to six months in the NOC acquisition process,” stated…

Latest StoriesRera

Tamil Nadu RERA: Mandatory Info Boards for Real Estate Projects

CHENNAI: The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has released a circular aimed at boosting transparency and consumer awareness. Effective May 7, the mandate requires all registered real estate project sites to install well-visible display boards. This rule is applicable to both building and layout projects statewide. According to TNRERA member M. Krishnamoorthy, “The circular specifies that these boards must include crucial details such as the promoter’s name, the project’s name, TNRERA registration information, the completion date as per TNRERA, and the TNRERA website link.” Reiterating the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), TNRERA…