The Tamil Nadu Government is considering a proposal by the Confederation of Real Estate Developers’ Associations of India (CREDAI) for utilising the vacant IT buildings for non-IT purposes.
CREDAI national secretary T Chitty Babu told ‘Express’ on Wednesday that the proposal was made following a recent slump in the IT sector.
“There were no takers for IT buildings that were constructed and are lying vacant in various parts of the city, including Old Mahabalipuram Road and Ambattur,” he said.
Babu said that these IT buildings were constructed with the incentives given by the State government to builders to promote IT. “The State government’s liberal sops by way of increased FSI at 3.75 for IT buildings encouraged builders. Now, these buildings are lying vacant due to lack of tenants.
So we have made a representation with the Housing and Urban Development Minister to look into the issue,” Babu said.
Interestingly, the proposal is pending with the Housing and Urban Development Ministry after the Chennai Metropolitan Development Authority submitted its report in this regard to the government a few months ago.
Sources said as the premium floor space index provisions have been made in the development regulations, allowing excess FSI area can be considered by government on collection of premium FSI charges as prescribed by development regulations even in cases where it exceeds the maximum allowable premium FSI limit.
However, this has been opposed by town planning experts, who claimed such a move would be detrimental and sought the abolition of premium FSI concept.
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