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Real Estate News, Property Prices, Housing, Commercial Development | The HinduBusinessLine

Godrej Properties FY26 profit rises 32% to ₹1,850 crore, stock gains WeWork India opens Aerocity centre, adds 1.1 lakh sq ft in Delhi-NCR Listed realty firms tighten grip on land deals as market consolidates in FY26 Concorde leases 1.4 lakh sq ft to BHIVE at Bengaluru’s Econex Ramky Estates takes over ₹2,000-crore stressed residential projects from Skylark Builders in Bengaluru Brigade, Bain Capital to develop ₹2,200 crore mixed-use project in Bengaluru Cognizant pre-leases 6.5 lakh sq ft in Chennai to set up GCC for US Bancorp Strong leasing boosts Mindspace REIT’s Q4 performance Embassy REIT eyes 10–12 msf acquisitions; demand tailwinds support growth MICL Group acquires 2 projects in South Mumbai with sales potential of ₹2,000 cr Mahindra Lifespace pre-sales rise 21% to ₹3,405 crore in FY26 on strong housing demand Maharashtra amends sand policy, deploys flying squads to curb illegal mining DRA partners with California-based Slate AI for AI-led construction management GIFT City to expand its area by 15%; over 161 acres to be added Real estate shifts to delivery-led growth as RERA tightens norms: NBR Group Meghna Infracon to invest ₹500 cr on five redevelopment projects in Mumbai region Domestic capital drives 76% of India's real estate investment, foreign inflows stay muted: Report Nvidia inks 10-year lease for 7.6 lakh sq ft office space in Bengaluru Office market shines in Jan-Mar despite global headwinds; net leasing up 7% in top 7cities: JLL Mehul H Doshi assumes charge as president of CREDAI Chennai for 2026–2028 Sales of affordable homes down 23% in Jan-Mar to 16,273 units in top 8 cities: Knight Frank India real estate demand remains stable in Q1 despite launch slowdown: Equirus Lodha Developers bets on data centres and low leverage as it targets sustained growth after record FY26 Real estate deals down 63% to $763 mn in Jan-Mar against Dec quarter: Report Chalet Hotels acquires Udaipur resort for ₹171 crore Bengaluru’s next real estate boom to be driven by expansion of metro lines Sunteck Realty Q4 pre-sales rise 22% to ₹1,064 cr Capital inflows in Indian real estate rise 72% to record $5.1 billion in Jan-Mar: CBRE Table Space adds 4.25 lakh sqft in Mumbai, Pune Asset Homes charts road map for FY27; to launch 28 projects
TN Govt reforms in High-Rise Building approvals to reduce...
T E Raja Simhan · 2026-06-16 · via Real Estate News, Property Prices, Housing, Commercial Development | The HinduBusinessLine
Builders can now execute projects efficiently, staying closely aligned with shifting customer requirements and stipulated deadlines

Builders can now execute projects efficiently, staying closely aligned with shifting customer requirements and stipulated deadlines | Photo Credit: JOTHI RAMALINGAM B

In a significant reform aimed at improving the ease of doing business, the Tamil Nadu government has empowered the Chennai Metropolitan Development Authority (CMDA) to grant or reject planning permission for high-rise buildings (HRB) in the Chennai Metropolitan Area (CMA), eliminating the need for final government approval. The move is expected to accelerate project clearances, reduce procedural delays and enhance transparency in the approval process.

According to real estate industry sources, the decision is expected to shorten the approval process by 30 to 45 days. The authority to issue final orders for HRB projects will now rest with the CMDA, eliminating an additional layer of approvals and reducing bureaucratic hurdles.

The move will reduce the time to get clearance by 30 to 45 days and the authority to issue the orders for high rise buildings will stay with the CMDA rather than concerned ministers. This will keep approvals out of ministerial scope, thereby reducing other costs, which could be ₹30 to ₹40 per sq ft said sources.

The State government amended Tamil Nadu Combined Development and Building Rules (TNCDBR), 2019. Earlier, proposals for HRB were required to be scrutinised by a designated panel and then forwarded to the State government for final approval.

However, based on a request from the Member Secretary of the CMDA, the government has now reconstituted the scrutiny panel and amended the rules to eliminate the need for proposals to be referred to the State government after scrutiny by the committee. Instead, the CMDA will be authorised to grant planning permission directly, subject to compliance with applicable development regulations and building rules.

Real estate developers said the change is intended to facilitate faster project approvals, reduce procedural bottlenecks and improve the ease of doing business for the real estate and construction sectors.

Mehul H Doshi, President, CREDAI Chennai, said that the move will improve Ease of Doing Business and reduce delays in plan sanction. Since the HRB plans were being thoroughly scrutinised by CMDA, there was no value added in sending the same to the government. It resulted in delaying the approval process, especially during elections as GO’s could not be passed due to the Model Code of Conduct.

Pradyumna Krishnakumar, Executive Director, Brigade Group, said this simplifies the process and favours a quicker turnaround time for HRB development projects in the city, effectively bypassing the previous lengthy process of multi-layered government approvals.

Builders can now execute projects efficiently, staying closely aligned with shifting customer requirements and stipulated deadlines. By accelerating construction timelines and boosting investment, this approach also contributes to the growth of the city’s GDP, promoting a more dynamic and buoyant urban economy, he said.

Haresh Kishor, Managing Director, KG Foundations, said earlier that after CMDA and the HRB panel completed the technical scrutiny, the file still had to go to the Government for a separate GO, which was effectively a duplicate layer. By empowering the CMDA to directly issue approvals, the government has removed an unnecessary administrative bottleneck while retaining technical scrutiny. “I would call this reform a red tape killer and hopefully, it is the first of many such changes to come,” he said.

For developers, the saving is mainly in time, interest cost, holding cost and uncertainty. Depending on the project, this could save 1 to 2 months; in large projects, even one month saved has a meaningful impact on project IRR and funding cost, which eventually gets passed onto the end customer, he added.

Published on June 16, 2026