With the State Housing and Urban Development Department issuing orders increasing the Floor Space Index (FSI) in the State, veterans from the real estate industry demand ratification of common building rules (Tamil Nadu Combined Development Regulation and Building Rules, 2018).
“The industry welcomes the Government Orders increasing FSI, as it would minimise the cost of flats in multi-storied buildings. However, the relaxation will not help small builders and individuals,” S Ramaprabhu, vice-chairman of Builders’ Association of India, said.
The State government issued two orders amending the existing rules in Chennai Metropolitan Development Authority (CMDA) and Directorate of Town and Country Planning (DTCP) on October 26.
According to the orders, the FSI in the Chennai Metropolitan Area and other parts of the State has been increased to 2 FSI from 1.5 FSI for special buildings, multi-storied buildings and group developments. “The authority may allow the premium FSI over and above the normally allowable FSI subject to a maximum of 1.62 relating to the road width parameters,” the orders stated. For other developments, the FSI is fixed at 1.5.
While increasing FSI would allow construction of additional floors, and may bring down the apartment prices, Ramaprabhu warned that there was a possibility of land cost increasing thus escalating prices. Explaining the need for common building rules, Ramaprabhu added that promoters who have more than two grounds of land would only enjoy the relaxation. “The FSI relaxation will be useful only for 30 per cent of the promoters in the city. The government should ratify the common building rules, which would help individuals,” he said.