Tamil Nadu: Affordable housing projects to get extra FSI

floor space index

CHENNAI: Giving a major thrust to the affordable housing segment, the Tamil Nadu government has accorded higher floor space index (FSI is the ratio of land area to built-up area) ranging from 15-50% for apartment projects catering to the economically weaker sections (EWS), low income group (LIG) and middle income group (MIG) families.

As per an order issued by the housing and urban development department recently, apartment projects with each unit size not exceeding 40 sq metres (430.4 sq ft) can construct 50% extra FSI. The extra FSI on offer for LIG apartments – ranging from 40 sq metres to 60 sq metres – is 30% and for MIG apartments – 60 sq metres to 70 sq metres – is 15%.

For instance, an EWS project coming up on a one acre plot on a 40-foot road can now construct 98,010 sqft built-up area instead of 65,340 sq ft, which was permitted earlier.

The government has also relaxed the plot coverage norms by 10% for such projects, meaning the footprint of the building can be increased by 10%, provided other conditions like set back norms and height restrictions in the development regulations are not violated.

The relaxed norms are applicable across the state, including Chennai Metropolitan Area, regions falling under the jurisdiction of the Directorate of Town and Country Planning and various local planning authorities.

“Extra FSI for affordable housing is a welcome move and a boon for the sector,” said city based developer Arun Excello MD P Suresh, who carved out a separate vertical – Compact Homes – to cater to the needs of the middle income and low income group families way back in 2010. “In a city where land price is prohibitively high, extra FSI will increase the affordability quotient of projects,” said Suresh who sells more than 1,000 apartments a year in a market that is struggling to pick up.

Tamil Nadu could take cue from the housing project schemes for the poor launched by other states like Telangana and Andhra Pradesh, he said.Arun Excello is constructing one such housing scheme for the poor, funded by Hudco and the Telangana government, in the newly carved out Jaishankar district. “Apart from providing free land and sand for the project, the Telangana government has waived service tax on the cement required for the project. In effect, we get cement at `230 per bag, which is a far cry in the industry,” said Suresh.
The highlight of the project is that the contractor is doing a 100% concrete building using mivan aluminium formwork technology at less than `900 per sq ft, almost at half the cost of similar projects in Tamil Nadu.”Jaishankar district collector, is fully empowered to clear bills based on the progress in construction. The state government hardly comes into the picture,” said Suresh, suggesting that Tamil Nadu launch similar housing schemes.

Source : http://timesofindia.indiatimes.com/city/chennai/affordable-housing-projects-to-get-extra-fsi/articleshow/58371234.cms

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