Half of the city population depend on rental housing
Posted on: 21/Sep/2018 11:45:03 AM
The latest data compiled by urban development experts dealt with the drafting of the housing and habitat policy says 49 percent of families in the city resides on rental housing. This huge percentage brought a dip in the sales of the newly constructed houses all over Tamil Nadu.
The state government clears all the local settlements and native people in the name of slum clearance and housing development and all of the population unevenly distributed without taking the employment factor into account. This lead to suburb real estate development in many cities of the state. The current housing and urban development scenario reports people going for more rental option than buying a house especially after 2015-16.
When the unoccupied houses data compilation is compared with the entire nation then Tamil Nadu has the lowest percentage of unoccupied houses in the country. The total percentage of unoccupied houses in Tamil Nadu is only about 3% against the national level percentage of 9%.
The housing and habitat policy of Tamil Nadu looks for amending regulations for the development of the houses with improved infrastructure and facilities in urban areas. This promotes sales of the unoccupied houses of the city and the suburb all over the state. The state government is taking all kinds of initiatives for regulating the urban planning and development. But the strategy to distribute huge city population to the suburbs backfired leading to uneven population disrupting transport, residence and other important urban operations.
The recent update from the Housing department of Tamil Nadu confirms the planning of the state to increase the Floor Space Index from 1.5 to 1.75 promoting affordable housing projects.
The increase in the FSI marking can reduce the price of the flats. But the real estate development in the city took a heavy beating after the floods of 2015. So the precaution measurement for disaster prevention should be taken into account and then develop the housing infrastructure to regain the sales of the houses. The increase in FSI can improve the sales of the houses for the lower and middle category income people with the development of roads less than 30 feet categories.
