Residential Plots In Arumandai

The Chennai Metropolitan Development Authority (CMDA) has appointed three teams comprising Tahsildars, Revenue and Survey Inspectors to commercially develop government land within 1 km on either side of the Outer Ring Road (ORR). It plans to open up 2,500 acres of land from Meenjur to Bammadukulam, from Vellanur to Varadarajapuram and from Nasarathpet to Vandalur.

This comes after Tamil Nadu Housing Minister S. Muthuswamy had earlier announced plans to commercially develop two km of land along the ORR under the CMDA’s land pooling scheme. Shankar, Chief Operating Officer, Strategic Consulting and Valuation, JLL West Asia, said, “Infrastructure especially road connectivity is crucial for any development and acquisition of land for commercial purposes is moving in the right direction.”

“However, the product mix derived from demand dynamics needs to be carefully understood. The model should be integrated development with commercial activities along with residential zones. Also, to achieve more sustainable and inclusive growth, attract private developers, and buffer zones along roads for further road expansion with land and open spaces set aside for recreation. It should be,” he said.

CMDA is appointing a consultant to prepare the Detailed Development Plan (DDP) for the ORR development route. The consultant will identify and describe areas suitable for implementation of the Land Pooling Area Development Plan (LPADS), which is yet to be implemented, and the Economic Development Plan.The consultant will study the guide value of land parcels near ORR as per land classification and market prices as per latest record details near the land under study.

Currently, the cost of land is Rs 2 crore per acre on ORR and Rs 3 crore near the road junction. However, the starting point for ORR is Rs 10 to 12 crore per acre, said Srinivas Akinipatti, senior director, Tamil Nadu and Kerala, Knight Frank India.

CMDA is currently carrying out a feasibility study in the area, said Anikkapatti. He said that availability of land is the biggest challenge for the development of Chennai and said, “Any effort taken by the government to release such land is a boon. The city should be expanded. We lose out to Bengaluru and are second only to Hyderabad in terms of city expansion. “Government is creating land distribution, we should welcome it,” he said.

Sources said the entire process of opening land parcels in ORR will take more than six months, following which a government order may be issued.