The Tamil Nadu government is making all-out efforts to meet evolving requirements relating to residential and commercial housing as around 49% of the state’s population is living in urban areas, said Chief Minister MK Stalin on Saturday. For this purpose, the government is providing speedy approvals for projects and is also planning to establish new satellite cities.
Speaking after unveiling the Tamil Nadu Real Estate Vision 2030 at the real estate exhibition Fairpro 2023, hosted by the Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai, he said there will be huge opportunities in the real estate sector due to the increasing population in Chennai, and coming up of new industries, and increasing demand for housing and offices for companies. He urged CREDAI to take the major responsibility of building and providing houses and commercial spaces.
He said that the urban population in Tamil Nadu, which was 1.90 crore in 1991 increased to 3.49 crore in 2011 and it is expected to increase further to 5.34 crore in 2031. As per the 2011 Census, the state has 832 cities and towns. Tamil Nadu is the leading state in the country in urbanisation. The chief minister said metros emerge due to rapid growth, especially an increase in population and migration. Keeping this in mind, the State Housing and Urban Development Department has formulated and implemented various housing projects.
For the overall development of the state, the government has been focusing on all sectors like education, agriculture, medical, small business, women development, and environment. The government has established a single-window system for granting approvals for the construction of buildings, he said.
CREDAI in its proposal to the state government urged to go for redeveloping and retrofitting of old government buildings to develop affordable homes on a public-private -partnership (PPA) basis. The realtors body has also asked the government to rethink over the vacant land utilisation including the conversion of under-utilised industrial land to build affordable homes.