In what will come as an extra burden on developers and homebuyers in Chennai and other parts of Tamil Nadu, the state government has increased the infrastructure and basic amenities charge by 50 per cent.
Though the order does not directly impact flat buyers, builders will include the extra charges to the cost of the flat.
For instance, for multi-storied residential building (above four floors or over 15.2 metres tall) category, the charges have been increased from Rs 250 to Rs 375 per sq. metre or Rs 12.50 per sq. foot in Chennai Metropolitan Area (CMA), Chengalpattu, Coimbatore and all other parts of the state.
For multi-storied commercial or IT or industrial buildings it has shot up from Rs 500 to Rs 750. Thus on a purchase of a 750 sq. ft flat, the buyer will have to pay an additional amount of Rs 15,000 to Rs 30,000 depending on the builder and the total built up area.
“A builder who constructs a 1 lakh sq. ft residential flat will have to pay an additional Rs 12.5 lakh towards infrastructure and amenities charges. Ultimately the buyer will be forced to bear the increased cost,” said Mr T. Chittibabu, National Secretary, CREDAI.
The rates for multi-storied commercial category (commercial or IT or industry or an institutional building) in Coimbatore and Tirupur area has been increased to Rs 563 from Rs 375 per sq. metre while for CMA it has been hiked from Rs 500 to Rs 750 and for other areas it has been raised to Rs 375 from Rs 250.
Charges for three other categories — other than multi-storied buildings, Institutional buildings and Industrial buildings — in CMA region and other 3 regions (Chengalpattu, Coimbatore and other areas in state) falling under commissioner of Town and Country planning have also been modified.
This was one among the announcements in the state budget presented recently in the Legislative Assembly and had come into effect from March 28.
However, buildes who had submitted their applications and got the in-principal approval for construction before the above date need not pay the increased amount.