CREDAI Hails Tamil Nadu Government’s Move to Speed Up Real Estate Approvals

CREDAI Tamil Nadu has welcomed the Tamil Nadu Government’s decision to empower the Chennai Metropolitan Development Authority (CMDA) to grant planning permissions for high-rise building projects within the Chennai Metropolitan Area. The developers’ body described the move as a major reform that will simplify and accelerate the approval process.

Previously, high-rise projects had to undergo multiple stages, including committee reviews and final government approval, often resulting in significant delays. CREDAI noted that such delays increased project costs, affected cash flows, postponed project launches, and impacted homebuyers awaiting possession.

Under the new system, CMDA will be authorized to approve or reject proposals based on recommendations from the High-Rise Building Committee, creating a more efficient and accountable approval framework.

CREDAI believes the reform will boost developer confidence, improve ease of doing business, increase housing supply, and support Tamil Nadu’s economic growth. The organization has also urged the government to extend similar powers to urban development authorities in Coimbatore, Madurai, and Tiruchirappalli.