CHENNAI: Confederation of Real Estate Developers' Associations of India (CREDAI) has welcomed the Parandur Airport project and lauded the state government for providing fair compensation to landowners in the project area.
Terming the government's move of providing higher compensation as proactive and transparent, Mohamed Ali, President, CREDAI Chennai, said, “This is a crucial step toward building a world-class airport that can truly change the way Chennai grows."
He added that large infrastructure projects like the airport not only improve connectivity but also support balanced growth across the region.
CREDAI Chennai believes that with the parallel development of IT parks, logistics hubs, and related infrastructure, the Parandur region can quickly evolve into a major growth corridor. This will help attract investments, generate employment, and promote inclusive housing along the western belt of Chennai, he said
“We remain optimistic that with continued support from the government, Parandur will become a key driver of Tamil Nadu’s economic future,” he added.
Two days ago, the government issued an order to provide compensation up to 3.5 times to 7 times the guideline value.