CHENNAI: The state government is mulling on increasing floor space index (FSI) to over 3.25 in integrated townships, which it is planning to promote with significant investment from private sector, through the new policy it is finalising for integrated townships.
At present, Chennai Metropolitan Development Authority has set the FSI for residential buildings at 1.5 and 2 in most areas while for commercial buildings it can go up to 3. Sources said CMDA is thinking about increasing the maximum floor space index to 6.5 in the Transit Oriented Development (ToD) area along the Chennai Metro Rail and MRTS corridor and developers could push for higher FSI.
According to sources, the normal applicable FSI in integrated townships will be based on the road width as applicable under Tamil Nadu Combined Development and Building Rules (TNCDBR). However, officials are considering a flexible FSI so that balance unutilised FSI at one site can be used in another site within the same integrated township.
Over and above the FSI as prescribed in TNCDBR, sources said, an additional FSI of 0.1 may be provided for the houses to be built in the townships for economically weaker sections, in addition to the 10% of minimum requirement for EWS.
Srinivas Anikipatti, Senior Director - Tamil Nadu and Kerala, Knight Frank India, said developers could be demanding an even higher FSI to what is proposed under the policy. Though the state lacks proper integrated townships, it has few residential townships developed by Hiranandani and SPR group, which could be converted into integrated townships by adding amenities mandated. Integrated townships inside city could be built on 25 acres while on peripheries it could go up to 100 to 200 acres or beyond.
Dr Niranjan Hiranandani, Chairman, Hiranandani Group, said, “Integrated townships will propel economic growth, attract investment and boost employment. After the pandemic, interests of home-buyers are skewed towards such integrated township model in quest of better integrated living with community benefits. Gated projects attract all segments of home-owners. Buyers will benefit from such township projects as it caters to their preferences in terms of education, healthcare, entertainment and retail all at one stop destination. This will have a multiplier effect on GDP growth.”
Similarly, the draft integrated policy, which was prepared by the State Planning Commission, has proposed to provide a green channel / single window clearance system for developers who want to establish and operate a project of the size of an integrated township.
In places where land use conversion is needed to ensure availability of large pieces of contiguous lands, re-classification will be decided by the Empowered Committee for Integrated Townships to be formed by the government, sources said. However, the biggest challenge will be to amend the Town and Country Planning Act. The present Act does not provide for Township policy, sources said.