Chennai: On getting a green signal from the Chennai Metropolitan Development Authority (CMDA), developers have taken a plunge into the development of beachfront properties. Easing the rules over the construction of properties in the Coastal Regulation Zones (CRZ), the CMDA has sent out approvals for the launch of residential spaces on the beachfront. Chennai’s Elliot Beach in Besant Nagar will soon be the home a 3 storeyed residential project in Chennai launched by a noteworthy city Builder.Initially the Government had imposed strict laws over the construction of buildings on the beachfront. At the same time accommodating the growing population had also become a herculean task. Builders have applied for property development via joint ventures in the CRZ hotspots. However the projects could not attain completion owing to restrictions on the FSI introduced by the CMDA. Land owners on the other hand are demanding Rs. 6 crore for a ground due to which Chennai’s real estate transactions have taken a back step on the beach fronts. If properties were to be in lines with the FSI specifications then the price per sq.ft would shoot up to Rs. 30,000 per sq.ft.Redevelopments in CRZ follow the guidelines laid down by the CMDA wherein the allowable building height stands at 18 metres. Though permissions for new constructions are restricted, redevelopment is allowable for buildings which are on the land side. Due to this the CMDA receives very meager applications for redevelopment in the first place. Those which are received shall be scrutinized to refurbish the existing building structure, provided they adhere to the norms of the CRZ.займ на карту без отказов круглосуточновзять кредит онлайн