CHENNAI: Promoters now have a bigger cushion time to deal with issues that delay realty projects, with the state government extending the validity of planning permissions to five years from the earlier three. The government’s amendment to Section 50 of the Tamil Nadu Town & Country Planning Act, 1971 comes at a time when demand […]
CHENNAI: In a rare instance of a consumer forum sentencing a service provider, the district consumer disputes redressal forum, North Chennai, has ordered three months imprisonment for a city-based realtor. According to A Sridar of East Mada Street at Vilivakkam, he had purchased a flat from RNR Builders of the same area. The builder, however, […]
CHENNAI: Shortage in supply of workplace has led to reduced absorption and higher real estate rentals in Chennai. For your period from January to September this year, deals for almost 3.3 million square feet have already been signed, down from 3.7 million last year. Rentals have, however, shot up by nearly 10% year-on-year. Chennai’s housing […]
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Since the calamities struck this coastal town in 2014 & 2015, real estate sector has retrieved in the setback triggered through the surges of December.