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Latest Property News in and Around Chennai

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  • Re : Latest Property News in and Around Chennai

    Railways to redevelop Egmore Colony, to invite bids soon in Chennai

    Rajesh Chandramouli / TNN / Jul 9, 2021, 06:26 IST


    Railway residential colony on Poonamallee High Road in Egmore.

    CHENNAI: The Railway Colony on Poonamallee High Road in Egmore is set for re-development, with the railways getting ready to call for bids for the prime property. A statutory authority under the railways has kickstarted the process to lease other large tracts of prime real estate in a bid to monetise assets.

    Officials at Railway Land Development Authority say the Egmore Railway Colony, which is situated at the junction of Poonamallee Highroad and Dr Nair Road, will be available for bids shortly.

    Of the nearly 6.24 hectares, around 3.6 acres will be available for lease for 45 years. On the balance portion, the lessee will be mandated to redevelop 156 railway quarters on-site, a school, community centre, etc., for the railways. "Developers can also utilise surplus FSI from the railway portion and construct 7 lakh sq ft of built-up area for retail/commercial/hotel usage in this prime location of Egmore, making this a unique opportunity in the area. The bids for the redevelopment of this colony will be invited shortly," a statement from the RLDA said.

    Among other land parcels that are coming up for redevelopment are: two land parcels of 2.5 acres each and one land parcel of 3.6 acres in the Ayanavaram Railway Colony, situated along Konnur High Road and Duncan Road, railways land located at Walltax Road near Basin Bridge (0.27 Acres), Pulianthope (2.09 Acres) and the Victoria Crescent site adjacent to Ethiraj College (1.062 acres), also in Egmore.

    "Chennai is poised to emerge as a realty hub due to spate of rapid infrastructural developments and conducive push by the Tamil Nadu government. Indian Railways has several land parcels in Chennai that are strategically located and suitable for commercial development. Once completed, the redevelopment of these sites will generate employment opportunities, boost real estate and retail and have a multiplier effect on socio-economic development in the region," said Shri Ved Parkash Dudeja, vice-chairman, RLDA.

    Real estate consultants said that the bids that are open would be a litmus test for the property scene in Chennai, considering that most of the properties that are coming up for redevelopment are in prime locations and could potentially show the way forward for the market which is looking for directions in a post-Covid scenario.

    "Monetising the railway assets will unlock prime properties in the city. Mixed development of retail and office will attract good demand. Besides, co-living will be an asset class to develop in the residential zone areas because the land is being leased," said Srinivas Anikipatti, senior director of real estate consultants Knight Frank India.










    Railways to redevelop Egmore Colony, to invite bids soon in Chennai | Chennai News - Times of India (indiatimes.com)
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    • Re : Latest Property News in and Around Chennai

      Madras HC stumbles on rampant land sale fraud in cooperative societies

      The modus operandi is that once a suit is initiated in a civil court, a ‘compromise’ deed is filed wherein the society would ‘agree’ to convey the property in favour of the buyers.
      MADURAI: Slamming frauds in cooperative societies, where premium lands are sold off for a song by elected office-bearers and staff members, Madras high court has ordered a thorough audit of all sale transactions of all societies in the state.

      Justice N Anand Venkatesh dismissed a petition filed by R V Shanmuganandam who sought for a direction to Tiruchirappalli Cooperative House Construction Societies Limited to execute the sale deed of a property at Tennur village in his favour. He relied on a ‘compromise decree’ of principal district munsif court at Trichy in 2010.

      Calling it a classic case where valuable land parcels are sold at throwaway prices by conspirators, the judge imposed an exemplary cost of Rs 10 lakh, which would be payable to the Chief Minister's Public Relief Fund. As a corruption case had been registered against the secretary and members of the society in 2020, the judge directed officials to expedite the investigation and file a final report against all accused within three months.

      The modus operandi is that once a suit is initiated in a civil court, a ‘compromise’ deed is filed wherein the society would ‘agree’ to convey the property in favour of the buyers.

      Flaying the practice, the judge directed the authorities to immediately set aside the ‘compromise’ decree vitiated by fraud. He said: "If cases of this nature are let off without taking stringent action, the cooperative movement in the state will suffer and it will ultimately end in closing down societies which are already on the brink of precipice."

      "The bane that afflicts the cooperative movement in this state is mainly attributable to misappropriation and manipulation of the funds of the society by the office-bearers and staff working in the society," Justice Anand Venkatesh said.

      The judge expressed shock at the Trichy case, and pointed out that the petitioner had bought a property measuring 7,800sqft for Rs 62.5 lakh from the society in 2015, only to sell it to another person for Rs 2.3 crore within 21 days. The secretary executed yet another sale deed to the petitioner for a land measuring 10,048sqft for Rs 80.59 lakh. Two other sale deeds were executed in the same year to another man named Thirisangu by the society.

      The judge observed that since the authorities came to know the conspiracy which caused a loss of Rs 6.2 crore to the society, an administrator was appointed and he refused to execute the sale deeds, on the ground that the sale deed is not binding on the society. He cited a government order issued in 2009 mandating that properties of societies could not be sold below the price fixed by the pricing committee.











      Madras HC stumbles on rampant land sale fraud in cooperative societies, Real Estate News, ET RealEstate (indiatimes.com)
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      • Re : Latest Property News in and Around Chennai

        Portal lets land sharks feast on chunks of Chennai

        This came to light with the recent expose of the sale in 2017 of three acres belonging to the Tamil Nadu Housing Board at Mogappair, with a market value of Rs 150 crore.


        Land sharks in collusion with officials are exploiting a weakness in the registration department’s software to grab prime plots belonging to various government agencies. This came to light with the recent expose of the sale in 2017 of three acres belonging to the Tamil Nadu Housing Board at Mogappair, with a market value of Rs 150 crore.

        Land belonging to the government shows a guideline value of zero in Tamil Nadu’s official portal for registrations, STAR 2.0 (Simplified and Transparent Administration of Registration), a sign that it is public property and not to be sold. However, officials in the subregistrar offices can assign a guideline value based on that of private property in the vicinity. This is how the scam works.

        Property belonging to the HR and CE department, for example, reflects as ‘patta’ in the registration department’s website, though the guideline value is zero. With the guideline value of an adjacent property taken into consideration, temple lands are registered illegally. In the case of revenue department land, a fake patta for ‘poramboke’ land parcels comes in handy to execute the transaction.

        Asked why the portal couldn’t be made tamper-proof by not allowing the ‘zero’ to be changed, officials said about seven lakh survey numbers of private property had been incorrectly classified as ‘poramboke’ land on the website. So officials needed to be able to make changes.

        Another ploy of the scamsters was to register property in one part of the city at a sub-registrar office in another part through the ruse of joint registration. For example, the illegal sale of the TNHB plot at Mogappair, which comes under the jurisdiction of the Konnur sub registrar office, was documented at the Velacherry sub-registrar office by clubbing it with a 400-square foot plot located at Velacherry for joint registration.

        The TNHB did not respond to TOI’s queries regarding the illegal property transaction, while a senior registration official said action was being taken and the loopholes in STAR 2.0 would be plugged.

        HR and CE Commissioner J Kumaragurubaran has, meanwhile, written to the commissioner of land administration on preventing fraudulent registration of temple lands in the state. In a communique on Thursday, he said it has now been proposed to flag the fully matched cases in Tamil Nilam data base under a flag name ‘T’, so that transactions cannot be registered. But that still leaves temple lands that are not properly accounted for.









        Portal lets land sharks feast on chunks of Chennai, Real Estate News, ET RealEstate (indiatimes.com)
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        • Re : Latest Property News in and Around Chennai

          Construction workers' registration in welfare board to be made compulsory in Tamil Nadu

          “We will bring necessary legal provisions to make registration of construction workers with the welfare board compulsory. This includes labourers from other states engaged in the construction industry,” he told TOI after assuming charge as the chairman of the board on Friday.
          • TNN
          • July 11, 2021, 12:44 IST

          CHENNAI: Registration of construction workers in the welfare board would be made compulsory in the state, said chairman of Tamil Nadu Construction Workers’ Welfare Board (TNCWWB) Pon Kumar.

          “We will bring necessary legal provisions to make registration of construction workers with the welfare board compulsory. This includes labourers from other states engaged in the construction industry,” he told TOI after assuming charge as the chairman of the board on Friday.

          The board has 13,41,494 registered members, while around 20 lakh labourers are not registered with the board. “We will carry out an inquiry to find out the reasons for not registering a large section of workers. Meanwhile, a special drive will be carried out to enrol the unregistered members. We are also taking efforts to simplify online registration,” he said.

          The board would insist on employing registered members in all government construction projects in the state. This would ensure insurance cover for the labourers and provide a safety net for their families if the workers meet with any accident, he added.

          On increasing the financial assistance to members, Kumar said until now, private builders have been paying 1% labour cess, which was used for the welfare of workers. However, it has not been collected from government projects. “From now on, we will insist the contractors taking government projects pay the labour cess without fail. This will increase the corpus fund and help us enhance the financial assistance,” he said.

          At present, family of a registered member who dies of natural causes is extended an aid of Rs 25,000. The board plans to make it Rs 1 lakh.













          Construction workers' registration in welfare board to be made compulsory in Tamil Nadu, Real Estate News, ET RealEstate (indiatimes.com)
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          • Re : Latest Property News in and Around Chennai

            Tamil Nadu Shelter Fund invests Rs 95 crore in Vijay Raja Homes' project

            The fund will be utilised for the construction and development of 2,700-unit project in Thirumazhisai, a suburb in western Chennai.
            • ETRealty
            • Updated: July 14, 2021, 10:07 IST

            NEW DELHI: Tamil Nadu Shelter Fund (TNSF), a fund managed by the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), has invested Rs 95 crore in an affordable housing project by Vijay Raja Homes, the company said in a media release.

            The fund will be utilised for the construction and development of 2,700-unit project in Thirumazhisai, a suburb in western Chennai.

            JLL India was the advisor for the transaction.

            TNSF is a Category I (Social) Alternative Investment Fund (AIF) invested by global investors like World Bank and managed by TNIFMC.













            Tamil Nadu Shelter Fund invests Rs 95 crore in Vijay Raja Homes' project, Real Estate News, ET RealEstate (indiatimes.com)
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            • Re : Latest Property News in and Around Chennai

              Madras HC directs state to collect GPS maps of waterbodies

              TNN / Jul 16, 2021, 08:47 IST


              FUTURISTIC VIEW: A view of the Korattur lake in Chennai. The high court said generating satellite maps of water bodies can serve as a ready-reckoner for town and country planning authorities


              CHENNAI: To create a repository on water bodies in Tamil Nadu so as to check future encroachments, the Madras high court on Thursday directed the state to collect GPS maps of water bodies along with drone photography and manual survey.

              “It may be a worthwhile exercise to use various modes, including GPS technology together with drone photography, on the one hand, and physical survey, on the other, if only to have accurate details of the topography and the nature of the space on ground that can be dated,” the court said.

              This may not only help the revenue department but may also be a guide for the town and country planning authorities, be a reference point for environmental impact assessment or a regular reference for specialised bodies such as pollution control boards, the National Green Tribunal (NGT) and the like, the court added.

              The first bench of Chief Justice Sanjib Banerjee and Justice Senthilkumar Ramamoorthy passed the order on a PIL moved by an environment conservation organisation Iyarkai Valam Matrum Perumpalla Odai Padukappu Nala Sangam.

              The petitioner alleged that the Erode district administration is encroaching upon a water body in the guise of a smart city project.

              When the plea came up for hearing, advocate-general R Shunmugasundaram indicated to the court several technical difficulties and the limitations of court orders to collect satellite maps of water bodies. He pointed out that the satellite maps are not geo-referenced and are not displayed on their respective real-world positions but are static images.

              Recording the submissions, the bench said, “For the moment, the google images of all taluks should be prepared and catalogued and preserved even if they may not be geo-referenced.”
              The more detailed work of drone photography together with GPS may be resorted to thereafter before the painstaking cadastral survey work can be undertaken to have centimeter-accurate or inch-perfect details and record, the court added.





              Madras HC directs state to collect GPS maps of waterbodies | Chennai News - Times of India (indiatimes.com)

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              • Re : Latest Property News in and Around Chennai

                Hyundai Motor India Foundation takes up maintenance of Greenery Belt near Chennai

                Nandini Sen Gupta / TNN / Updated: Jul 16, 2021, 16:41 IST


                The greenery belt accommodates over 20 indigenous varieties of trees including Indian cherry, Indian beech, mahogany, Indian tulip, ben teak, banyan, fig, peepal and others.

                CHENNAI: Hyundai Motor India Foundation (HMIF), the philanthropic arm of Hyundai Motor India Ltd, has undertaken the maintenance of Greenery Belt, a habitat of around 5,000 trees inside the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) Industrial Park near Chembarambakkam lake at Irungattukottai in Sriperumbudur.

                Ganesh Mani S, trustee of Hyundai Motor India Foundation, said, “In line with our global vision, ‘Progress for Humanity’, we have taken up the maintenance of greenery belt in SIPCOT Industrial Park for creating a green ecosystem.

                HMIF will also initiate bio-fencing and laying of pathway, nursery formation, creation of compost pit and recreation spot in the coming years. In order to inculcate the culture of being environment-friendly, children will be encouraged to visit the park to see the wide variety of trees available and learn about the benefits of planting trees. Botany students from various colleges are also expected to visit the location for research and other projects.”

                The greenery belt accommodates over 20 indigenous varieties of trees including Indian cherry, Indian beech, mahogany, Indian tulip, ben teak, banyan, fig, peepal and others.
                HMIF has partnered with Centre for Sustainable Development (CSD), a non-governmental organisation, for driving the project.

                The manure required for growth of the trees are being procured from residents of nearby villages, providing them an opportunity to generate additional income. This maintenance activity has also generated employment for 15 socially and economically underprivileged families residing in and around the project area.














                Hyundai Motor India Foundation takes up maintenance of Greenery Belt near Chennai | Chennai News - Times of India (indiatimes.com)
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                • Re : Latest Property News in and Around Chennai

                  Greater Chennai corporation debris kills Miyawaki forest

                  Komal Gautham / TNN / Jul 17, 2021, 09:13 IST


                  Corporation debris near a Miyawaki forest at corporation school in Perungudi

                  CHENNAI: A 2,000sqft Miyawaki forest set up by residents and students of the Perungudi corporation higher secondary school is at risk of being destroyesd as Greater Chennai Corporation officials have begun dumping construction debris near the trees.

                  Local residents said that the civic body officials had earlier uprooted trees planted on a land belonging to the Public Works Department near the lake. “About 20-25 plants were removed using earth movers in December last year to set up a shed to park battery-operated vehicles of a contractor. We had protested then and they offered us a 20,000 square feet OSR land close by. But now, they are dumping debris even there. We wanted to set up another Miyawaki forest there,” he said.

                  A civic body official said that they were only using the space temporarily as the debris will be sent to a construction plant near Perungudi landfill. “Some people are dumping it illegally at night as well,” he told TOI.
                  The lake actually belongs to PWD. The Perungudi Lake Area Neighbourhood Environment Transformation Association (PLANET) has been working in coordination with the PWD in organizing several tree planting activities and lake rejuvenation festivals since 2016. More than seven residential colonies are part of this association.

                  P Sajeevan, a resident, stated that a few days ago, the civic body began clearing debris from the OSR land. “But they continue to dump it near the Miyawaki forest in the school ground,” he said, adding that the civic officials in the zone have always been unsupportive of the plan to nurture a Miyawaki forest.

                  A corporation official told TOI that they would find an alternative plot for this purpose.










                  Greater Chennai corporation debris kills Miyawaki forest | Chennai News - Times of India (indiatimes.com)
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                  • Re : Latest Property News in and Around Chennai

                    Tamil Nadu to form flying squads to inspect buildings under construction

                    The minister said that if there are any defects it would be rectified at the initial stages itself based on the reports of the flying squad.
                    CHENNAI: Tamil Nadu housing and urban development minister, S. Muthusamy has said that the state would form flying squads to inspect the buildings under construction to prevent any violation in the layout or approval. The minister said that if there are any defects it would be rectified at the initial stages itself based on the reports of the flying squad.

                    The minister was speaking to reporters at Erode on Tuesday.

                    Muthusamy said that presently the officials inspect a building only after its work is completed to check for violations and to issue the completion certificate.

                    He said that instead, flying squads will inspect the construction site at each stage of building and will mark out the violations and inform the concerned authorities if anything found illegal. The minister said that this would help the building owner also to make the necessary changes in the construction according to the report given by the squad.

                    The housing and urban minister said that chief minister, M.K. Stalin has directed the officials that building permissions must be given in 45 working days and that there should not be any violations.

                    Several violations were noticed in Tamil Nadu and constructions without taking into account the Coastal Zone guidelines were rampant in the state. The Madras High court has also made a few observations against the blatant violation of declared norms in the state of Tamil Nadu.












                    Under construction property in Tamil Nadu: Tamil Nadu to form flying squads to inspect buildings under construction, Real Estate News, ET RealEstate (indiatimes.com)
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                    • Re : Latest Property News in and Around Chennai

                      Rain shows up pathetic roads across Chennai


                      Srikkanth D / TNN / Jul 20, 2021, 05:53 IST



                      Bumpy ride: A damaged portion of a thoroughfare at Srinivasa Nagar in Madipakkam on Monday

                      CHENNAI: It’s the same old story playing on a loop year after year. Last week’s incessant rain exposed the battered condition of roads in Ram Nagar, Srinivasa Nagaland surrounding areas in Madipakkam, making commute difficult for motorists and pedestrians.

                      While many roads are already in a shoddy state, residents of Madipakkam said government agencies and private internet service providers have dug up roads at several locations.

                      “The craters on roads are dangerous for motorists when it rains... many have fell down. In addition to this, these artificial pits are not barricaded and pose further risks at night,” said S Srinivasan, a resident of Ram Nagar.

                      Neighbourhoods such as Ram Nagar, Srinivasa Nagar, Sadasiva Nagar and Kuberan Nagar get submerged if it rains in excess. “Even now, you can see several vacant plots here have got submerged in water. These are breeding grounds for mosquitoes,” said G Govindasamy, a resident of Kuberan Nagar.

                      People living in Arivoli street near Ram Nagar (north) said their road has remained battered for years and despite several representations, no action has been taken for years.

                      Apart from the callousness of the local body in addressing these issues, movement of metro water tankers in interior roads also worsens the condition, local residents said.

                      There is a metro water filling station in Annai Theresa street in Puzhuthi-vakkam and all metro water tankers use interior roads in Ram Nagar and Srinivasa Nagar to travel. Apart from denting the roads, the tankers operate at dangerous speeds and pose risk to motorists, say residents.

                      “People are scared- to ride their vehicles or even walk. We all know how rash these water tankers are driven,” said N Rajesh, a cab driver.

                      An engineer in Zone 14-Perungudi of Chennai Corporation said that the civic body will take up repair of interior roads before the monsoon this year. “Even before, when the roads were damaged by metro water tankers, we used to patch them up from time to time. Before monsoon begins, we will take up repair work,” said the engineer.









                      Chennai rain: Rain shows up pathetic roads across Chennai | Chennai News - Times of India (indiatimes.com)
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