Hon’ble CM M K Stalin Unveils CREDAI Chennai’s Vision Document “Tamil Nadu Real Estate Vision 2030 “

Chennai, February 18, 2023: Hon’ble Chief Minister of Tamil Nadu Thiru. M K Stalin on Saturday released the Tamil Nadu Real Estate Vision 2030, a comprehensive report on the sector prepared by CREDAI Chennai

at FAIRPRO 2023’ – The 15th edition of South India’s Largest property expo and the annual flagship property of CREDAI Chennai. Thiru Thangam Thennarasu, Hon’ble Minister for Industries, Tamil Official Language and Tamil Culture, Archeology, Government of Tamil Nadu, Ms. Apoorva, Principal Secretary, Housing and Urban Development Department, Government of Tamil Nadu, Mr. Suresh Krishn, president, President, CREDAI Tamil Nadu, S Sivagurunathan, president, CREDAI Chennai, P Kruthivas, convener, FAIRPRO 2023 and Secretary CREDAI CHENNAI, Mr R Radhakrishna, CGM, SBI, and Mr Mohamed Ali, President – Elect, CREDAI Chennai were present on the occasion.

The report, done along with Savills, has provided recommendations to the State government on different sectors like setting up of Mega Food Park, agro-processing cluster, the establishment of media city, promotion of gaming industry, the establishment of Marine park, more amusement parks and other tourism initiatives, pharmaceutical parks, BFSI hub, affordable housing – rental and specialised segment, labour focussed housing, redevelopment of government assets etc.

Hon’ble Chief Minister of Tamil Nadu M K Stalinlauded CREDAI Chennai for coming out with the report. “This government is working with a sense of commitment to provide housing for every family living in Tamil Nadu. So I consider it a privilege to be a part of this important event in this vital sector,” he said.

Hon’ble Chief Minister explained further that the increasing population, new industries setting base in Chennai, etc, has spiked the demand for houses and land parcels for companies to operate. “Therefore, as the Chief Minister of Tamil Nadu, I request that CREDAI Chennai to shoulder the major responsibility of building and providing houses and commercial spaces accordingly,” he added.

Highlighting CREDAI Chennai’s request to the hon’ble Chief minister to increase the Floor Space Index for narrow roads, Thiru M K Stalin said that the Government will give due consideration to this request and announce a favorable decision.

The hon’ble Chief minister also said, “By increasing the FSI affordable housing can be provided to benefit the poor. Therefore, I request the CREDAI Chennai members to take advantage of this and come forward to provide affordable housing.”

Mr. S Sivagurunathan, President, CREDAI Chennai, said, “The Tamil Nadu Real Estate Vision 2030 will enable the state government’s vision to make Tamil Nadu an ideal destination for investment. The Real Estate sector has contributed 23 percent to the state’s GDP with CREDAI Chennai holding 82.6% of the market share in terms of units”

Mr. P. Kruthivas, Secretary, CREDAI Chennai and Convenor, FAIRPRO 2023, thanked the Hon’ble Chief Minister for bringing reforms in the housing and urban development department and expansion of Chennai city. “The online system and simplifying layout approval process is a huge relief for the developer’s community,” he said.

Mr. Suresh Krishn, president, CREDAI Tamil Nadu said that it is a golden period for the real estate sector as the present government has introduced various measures like power delegation, online plan approvals, creation of master plans for all urban areas in the state.

“We would request the government to introduce the single window system to facilitate building approvals within 60 days, increasing FSI and reduction of registration charges. This will boost the real estate sector in the state and thereby generate employment opportunities and income for the state,” he said.