Prospects of rising prices for houses/flats – Echo of the recent CMDA Order!
Posted on: 27/Oct/2014 2:38:33 PM
With the recent orders from CMDA, there are prospects of a further steep rise in the prices of houses & flats.
A Floor Space Index (FGSI) is taken as 1.5 times of the building area for all constructions of special buildings and multi-storeyed buildings in Chennai urban & suburban areas. For multi-stroreyed buildings, FSI is taken as 2.25.
Following this, the builders apply for construction completion certificates after the completion of construction. While the CMDA Enforcement Officials inspect the construction, they allow a tolerance of up to 0.03 FSI as per the approved plan. If this excess FSI exceeds this limit of 0.03, legal action will be initiated.
Additional special charges are levied as per the excess FSI & the interior construction.
Subsequently, CMDA decided that a policy of charging premium FSI should be implemented. The secretary of CMDA, Mr. Karthik issued the official order on this on 21st July.
As per this, every new construction plan over an area of 50 square metres will be levied FSI charges as per the above guidelines.
The builders and the public have raised strong objections to this measure and protested.
