Prepare masterplans soon for cities, municipalities in Tamil Nadu, say developers
Speaking to the media in Chennai on Wednesday, WS Habib, the newly elected president of the CREDAI Tamil Nadu, opined that more importance should be accorded for masterplans.
CHENNAI: Noting that the lack of masterplans for cities and municipalities was affecting the real estate sector and also the State’s economic growth, the Confederation of Real Estate Developers' Associations of India (CREDAI) - Tamil Nadu urged the government to expedite the preparation of the blueprint.
Speaking to the media in Chennai on Wednesday, WS Habib, the newly elected president of the CREDAI Tamil Nadu, opined that more importance should be accorded for masterplans.
"Masterplans are necessary to avoid several issues in the sector. Growth of the real estate sector is important to achieve a USD 1 trillion economy goal.
“All the cities and towns in the state are expanding. To avoid a Chennai-like (unregulated growth) situation, masterplans should be completed soon. We have requested the government to include CREDAI in the masterplan-preparation processes. A major thrust of the CREDAI-Tamil Nadu agenda is the timely implementation of masterplans for all 135 major cities and towns across the state," he said.
He pointed out that masterplans were not just administrative documents but were blueprints for sustainable, inclusive, and well-governed urban futures.
Habib further requested the government to ensure the speedy approval of building plan applications, as several projects had to wait for around 1.5 years to get the requisite approvals. The delay was leading to cost escalation, which hit the developers hard. Also, he added, power connections should not be delayed.
In a move to deepen its statewide presence, Habib announced the expansion of CREDAI Tamil Nadu by launching its chapters in Sivaganga, Vellore, Karur, the Nilgiris, and Thanjavur to enable better regional representation and local advocacy. Presently, CREDAI has 10 city chapters, including Chennai, Coimbatore, and Puducherry.
He also revealed the plan to conduct annual international expos under the "FAIRPRO" brand in Dubai, Muscat, Abu Dhabi, Riyadh, Doha, and Singapore, aimed at attracting NRI investments and showcasing Tamil Nadu's real estate strengths on the world stage.
