Chief Minister Edappadi K Palaniswami said a decision to this effect had been taken following representations made by the buyers and developers. The regularisation rates too had been slashed.
The development window had been tweaked to include layouts developed and sold from August 5, 1975, for Chennai Metropolitan Area, while for the area existing outside it from Novermber 29, 1972, and the cut-off date has been set as October 20, 2016.
The layouts and plots purchased before the qualifying dates would be deemed regularised. Plot developers should gift deed 10 per cent of their unsold lands to local body for OSR irrespective of the prevailing prescribed OSR quantity, whereas total exemption would be provided from the OSR purview for individual plot owners.
The revision scraps three types of regularisation and would employ ‘so is as is’ model.