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Slum Development / Housing

Slum Clearance Board to rope in pvt player for multi-storeyed building

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Business Line                14.06.2013

Slum Clearance Board to rope in pvt player for multi-storeyed building

The Tamil Nadu Slum Clearance Board has decided to rope in a private player to construct a multi-storey building in the heart of Chennai. This is the first such project to be taken up in Tamil Nadu.

The department will give 32.95 grounds (one ground is 2,400 sq ft) of land available with it on Anna Salai, Nandanam, for developing the building.

The tentative project cost is expected to be around Rs 120 crore.

The concession period is likely to be for 30 years. The potential concessionaire will be chosen through a two-stage competitive bidding process under the private-public-partnership (PPP) mode.

Being the first time, the department does not want to take any chances. It will first get views of the potential investors before finalising the bid documents by inviting them to participate in an Expression of Interest.

The potential concessionaires will get an opportunity to share their views on the possible model for the proposed development to make the project attractive to the stakeholders. The department said that the PPP approach is more likely to prove attractive as the project is of a reasonable size involving creation of new infrastructure at huge investments. It had appointed Tamil Nadu Urban Infrastructure Financial Services Ltd (TNUIFSL) as transaction adviser to conceptualise the project and examining its techno-financial feasibility. The TNUIFSL said that the project is viable to be taken up in the PPP mode and can attract private investments.

The Board has constructed an office complex utilising an area of 6.78 grounds on stilts with four floors above. It is presently used by the Tamil Nadu Urban Finance & Infrastructure Development Corporation Ltd and TN Power Finance. However, the department has now proposed to construct a commercial-cum-office complex in the entire area of 32.95 grounds demolishing the existing building.

It is also proposed to utilise the available premium FSI along with the allowable FSI allowed as per CMDA norms under Second Master Plan considering the prevailing huge land cost in that area.

The concessionaire has to hand over 20.56 per cent of the area developed to the Board and shall generate revenue from the remaining area. The concessionaire has to demolish the existing building in the site, only after completing the entire construction and putting it to use.

The implementation of the project will result in improved price realisation for the construction and will create direct and indirect employment opportunities.

Last Updated on Friday, 14 June 2013 09:58
 

Pg 7/ 08maycan03hudco

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The Hindu                  10.05.2013

Pg 7/ 08maycan03hudco

HUDCO reduces lending rates.

Housing and Urban Development Corporation Ltd (HUDCO) has announced a reduction in its lending rates for government and public sector borrowers for various housing and infrastructure development projects from May 1.

With this reduction, the economically weaker section and low income group category housing projects would get loans from HUDCO at 8 per cent to 8.5 per cent. The reduction also includes land acquisition for housing purposes, says an official release.

 

TNHB allottees can build new buildings in place of old ones: HC

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The Hindu                29.04.2013

TNHB allottees can build new buildings in place of old ones: HC

Staff Reporter

The Madras High Court ruled that allottees of flats promoted by the Tamil Nadu Housing Board (TNHB) could construct new buildings, if they found that their existing buildings had become old.

A full bench comprising acting Chief Justice R.K. Agrawal and Justices N. Paul Vasantha Kumar and K. Venkataraman, went over the important question of whether the TNHB has a right over such properties after the execution of sale deeds in favour of individual purchasers.

Dismissing an appeal by the TNHB, the judges stated: “allottees of the flats, after execution of the sale deed in their favour have got every right to demolish the existing buildings and construct new apartment blocks. Even if additional dwelling units are constructed and sold to third parties, the TNHB cannot lay any claim over such additional construction.”

“As long as the constructions are within the parameters of the rules of the CMDA, in our considered view, the TNHB have got no say, even if additional dwelling units are constructed after demolishing the existing flats,” the Bench said, adding however that the allottees or the subsequent purchasers should not convert residential blocks into commercial ones.

In the present case, a group of allottees (or subsequent purchasers) who intended to demolish their flats in Sowbagya Colony, K.K. Nagar, and build new dwelling units, had sought permission from the authorities to do so. Their demolition plans submitted to the Chennai Corporation authorities and building permission sought from the Chennai Metropolitan Development Authority were not processed, on the grounds that they needed to obtain a ‘no objection’ certificate from the TNHB before any work could be taken up.

Following writ petitions filed by the residents, a single judge of the Madras High Court directed the Chennai Corporation to grant an approval for the demolition of the existing structures and the CMDA authorities were directed to process their applications to construct new buildings. The TNHB had challenged this order.

 


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