November 28, 2022 The CW team
Often referred to as the gateway to South India, Chennai’s popularity has been driven by the city’s vibrant culture, availability of jobs and a range of infrastructure initiatives undertaken by the government, including greater ease of transportation for citizens.
“The existing Metro (Blue Line or Line 1) that stretches from Chennai International Airport to Wimco Nagar Depot has proved to be a popular choice for people to commute,” he says MSPrasanth, Deputy Commissioner (Works), Greater Chennai Corporation.“Therefore, Chennai Metro Rail Ltd (CMRL) proposes to procure additional rolling stock. In addition, two new subway lines currently under construction will improve the ease of transit. Once these two projects are completed, we will really start to see the effects of the network, which will increase the share of the public transport mode.”
Apart from decongesting city roads, this initiative will also impact real estate growth, more so due to the benefits of FSI. The Tamil Nadu Housing and Urban Development Department has passed an amendment to provide additional FSI along the metro corridor. Builders need to pay only 25 percent of the recommended value to avail the premium FSI for low-rise buildings and 20 percent of the recommended value for high-rise buildings. The rule applies to properties located within a distance of 500 m, measured from the center line of the corridor.
The transformation of the city of Chennai has also highlighted some major problems such as floods which cause loss of life and property. Addressing this problem, Shashirekha Ramanathan, Principal Architect, Space Studio Chennai, says, “I feel we need to reclaim our natural water resources and stop tampering with them immediately. This requires both greater intervention at the policy level and awareness at the level of individual consciousness. Consumers should ask themselves the right questions before investing in a home or buying one. In places that are being developed, we could build on stilts and take measures to raise the ground level accordingly.’
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