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Tamil Nadu's construction sector contributed 18.3% to the Gross State Domestic Product and the government raked in a cool INR 5,973 crore from registration of houses and land alone.
But the best part is - the state's leaders understand that to maintain this momentum and to look good while doing it, housing policies need to become more flexible and accommodating.
Bye Bye To Unorganised Housing
The Tamil Nadu government aims to make the state hut free by 2031, and to get there they are ready to change old laws by bringing about radical technological and administrative changes.
These include:
- Amending the Tamil Nadu Town and Country Planning Act (TNTCPA), TN Apartment Ownership Act and TN Slum Areas Act. Under the TNTCPA, the government aims to increase the building plan permission validity from 5 to 8 years.
- Arrangements in place with private firms to build houses for workers and provide it on rent. PPP rental housing project aspirants, keep your ears to the ground.
Word On The Street
🎙 By November of this year, real estate projects in Tamil Nadu have grown by 17% showing positive signs for the future...
...to make Tamil Nadu hut free by 2031, the government has to work together with the private sector and ease building laws. - extracts from Tamil Nadu CM, MK Stalin's address at CREDAI's Statecon 2021.