High rise buildings in Chennai to depend on solar for 2% energy needs

Chennai

With the ever increasing power deficit taking a toll on the economy, the Tamil Nadu government is planning to make it mandatory for major industries, high-rise apartment complexes, major institutions and hotels to meet 2% of their energy needs from solar sources. State environment minister B V Ramana said this on the sidelines of a meeting with the Tamil Nadu Pollution Control Board officials here on Monday. He said the environment department was debating the proposal, and it would be rolled out as a green initiative.

The proposal may lessen the burden on the Tamil Nadu Electricity Board, given the wide gap of 4,000 MW between demand and supply. Unable to supply power, the TNEB is imposing up to 12 hours of power cuts in many rural areas. “Solar system is cost intensive. Unless developers are given subsidies, it cannot be promoted. Only the enduser has to bear the cost,” said Prakash Challa, MD, SSPDL, a city based builder.

A one KW solar panel with battery costs . 2.3 lakh and generates four units a day. A similar unit without battery costs . 1.2 lakh and generates five units.

Going Green

• Tamil Nadu is facing a shortage of 4,000MW as on date
• TNEB has been imposing 12-hr power cuts in some rural areas
• Major industries, high-rises & institutions to be asked to meet 2% of their energy requirements through solar power
• As demand rises, there may be a fall in cost of solar panels which now cost between 1.2 lakh and 2.3 lakh

Source: The Times of India, Chennai

Reliance Infra’s Salem to Ulundurpet road project operational

Tamil Nadu

Reliance Infrastructure Ltd has completed its fifth road project in Tamil Nadu. This road project from Salem to Ulundurpet in Tamil Nadu is expected to ease traffic flow to the city centre – Chennai. The four laning has been completed and toll collection has commenced.

The project is executed on Build Operate Transfer (BOT) pattern under the aegis of National Highways Authority of India. RInfra has been awarded the contract to operate and maintain the road for a concession period of 25 years. Built at a cost of Rs 1,061 crore, SU corridor connects major tourist destinations, industrial zones and the Chennai international airport. Yercaud – a hill station and an important tourist destination in Salem district will now be easily accessible through this corridor.

Sudhir R Hoshing, CEO (Roads) Reliance Infrastructure said, “This road projects is expected to provide hassle-free, safer and smooth driving experience. The corridor will not only connect centers of tourism and industrial zones, but will also reduce the rural-urban gap by connecting 79 villages with Chennai, Bangalore and other major cities. The corridor will witness approximately 8,500 vehicles per day that is expected to double in the next four years.”

He added that with the opening of SU corridor, five out of six road projects worth Rs 3,300 crore in Tamil Nadu are now operational and generating revenue. Starting from Salem, SU corridor involved realignment and widening of two lanes to four lanes. Some section of SU stretch had dangerous curves and steep rises that were realigned, so that commuters can maintain the minimum design speed and enjoy the comfort of drive.

With the widening of SU corridor, the average speed of vehicle will now increase from 35 kms per hour to approximately 70 km per hour, thereby reducing the traveling time by 40-50 per cent and saving fuel cost by almost 40 per cent. Commuters traveling the entire stretch can now cover this distance in less than two hours whereas earlier, the same distance used to take almost 3 hours 30 minutes. Access from Salem to Chennai Airport will also become much easier and convenient.

Keeping the traffic density in mind, 10 lane toll plazas were constructed on SU road. Each toll plaza is installed with Automated Toll System to further reduce the stop over time. Total 3 Toll Plazas are located on the entire stretch of the corridor, out of which two are currently operational. Commuters residing within 20 kms radius of these respective toll plazas can also avail the benefit of monthly discounted passes.

Source: MagicBricks.com Bureau

A Rapid Hike In The Housing Sector

At a time when real estate values started stabilising in and around Chennai, the government of Tamil Nadu has increased the rule values for realty registration functions by hiking the values from sixty per cent to three hundred per cent effective April one. This has sent shock waves among the business and therefore the landowners and property developers are in a piquant state of affairs currently.

The government’s reduction in stamp duty by one per cent has not gone well with the business when the rule values were raised to unexpected levels. The realty sector is in for rebellious times owing to sudden and remarkable hike in guideline values and therefore the worst hit sector are going to be reasonable housing phase.

According to official sources, though the revenue for the 2 month amount (April and May) was up by Rs one hundred crore, the amount of transaction has come back down drastically. business sources say that town space transactions fell through owing to reluctance on the part of consumers to soak up the hike in stamp duty.

In vibrant industrial areas like Whites road, the rule price soared to Rs 16000 higher than the market price. In different town areas like Abhiramapuram, the price for residential property in Chennai is quite the industrial value. The state government in their anxiety to curb the unaccounted cash in realty transaction has sent a wrong signal to the market which can adversely impact the housing development.

Land transactions aren’t happening today not attributable to the steep hike in guideline values alone however owing to the cascading impact of RBI restrictions on bank funding to realty sector, uncertainty in FDI investment, world meltdown, higher expectations of PE funds and soaring land price. What has aggravated the entire situation additional is that the sudden hike in guideline values.

The worst hit within the current situation is that the reasonable housing phase and therefore the common man for whom the dream of owning a shelter can solely get longer. Though official sources claim that the hike in guideline values vary from sixty per cent in suburbs and outermost areas, lack of development and lesser margins for developers won’t encourage them and solely prolong the general development of reasonable housing within the returning months.

Yet another phase that bore the brunt of the hike in guideline values is that the homeowners in exigencies. The distress sale isn’t happening due mainly to the hike in guideline values.

While guideline values within the town are over market values, within the suburbs it’s the reverse, which may be a matter of concern. This disparity is partly owing to the slow growth of realty costs in suburban areas. Though properties are obtainable at lower rates, we’ve to pay a better stamp duty and registration fees there as they’re calculated based mostly on guideline values, that are over market costs.

There is conjointly a region of developers who feel that in some areas, the rule price revision has been so much too steep. With such upward revisions, middle income individuals can realize it troublesome to purchase property in Chennai. Already, several of them are moving to suburban locations. However, so much this argument can cut ice may be a matter of dialogue.

Even when the rule values were low, builders kept apartment costs high, who ended his five-year look for an apartment a month ago.

Source: http://proptigerrealty.wordpress.com/2012/07/05/a-rapid-hike-in-the-housing-sector/

Housing sector hit on the back of steep hike in guideline values

Chennai

At a time when land values started stabilising in and around Chennai, the Tamil Nadu government has increased the guideline values for land registration purposes by hiking the values from 60 per cent to 300 per cent effective April 1. This has sent shock waves among the industry and the land owners and property developers are in a piquant situation now.

The government’s reduction in stamp duty by 1 per cent has not gone well with the industry when the guideline values were raised to abnormal levels. The real estate sector is in for turbulent times due to sudden and abnormal hike in guideline values and the worst hit sector will be affordable housing segment.

According to official sources, though the revenue for the two month period (April and May) was up by Rs 100 crore, the volume of transaction has come down drastically. Industry sources say that city area transactions fell through due to reluctance on the part of buyers to absorb the hike in stamp duty.

In vibrant commercial areas like Whites road, the guideline value soared to Rs 16,000 above the market value, say property consultants. In other city areas like Abhiramapuram, the value for residential area is more than the commercial value (see table). The state government in their anxiety to curb the unaccounted money in real estate transaction has sent a wrong signal to the market which will adversely impact the housing development.

Land transactions are not happening nowadays not because of the steep hike in guideline values alone but due to the cascading impact of RBI restrictions on bank funding to realty sector, uncertainty in FDI investment, global meltdown, higher expectations of PE funds and soaring land value. What has aggravated the whole scenario further is the sudden hike in guideline values.

The worst hit in the current scenario is the affordable housing segment and the common man for whom the dream of owning a shelter will only get longer. Though official sources claim that the hike in guideline values range from 60 per cent in suburbs and peripheral areas, lack of infrastructure and diminishing margins for developers will not encourage them and only prolong the overall development of affordable housing in the coming months.

Yet another segment that bore the brunt of the hike in guideline values is the land owners in exigencies. The distress sale is not happening due mainly to the hike in guideline values, say industry sources.

V Nagarajan, Property Consultant

Source: http://content.magicbricks.com/housing-sector-hit-on-the-back-of-steep-hike-in-guideline-values

Tamil Nadu launches fool proof system for land registration

Chennai

In Tamil Nadu where close to 40% of the land titles are disputed, one can be certain about the legality of any purchase only until somebody challenges it. The situation is no different in many other states and it is estimated that it may take several hundred years to create clear titles for all land parcels in the country.

While Maharashtra, Karnataka, Andhra Pradesh and Gujarat have made considerable progress in computerization of land records and their integration with respective registration departments, Tamil Nadu is among the states that have made very little progress. This, despite the Centre earmarking huge funds under the National Land Records Modernisation Programme (NLRMP) for states to utilise.

In what could be termed a delayed act towards providing guaranteed title to land owners in Tamil Nadu, the state government has launched a pilot land records management programme in Kancheepuram and Tirunelveli districts to computerize urban land records. Two high-level committees, constituted through a government order recently, will monitor the programme, which will be followed up by computerization of land records in all urban centres in the state.

Computerisation of rural land records is already completed in Tamil Nadu.

The NLRMP aims at reforming land records management and land administration into a transparent system, which will ultimately lead to replacing the present document registration system that is followed in subregistrar offices, with a foolproof title registration system, said an official. “While the former is a presumptive title registration system, the latter guarantees a clear and conclusive land title,” said A Arumuga Nainar, former additional inspector general in the registration department.

Many countries including Germany, Australia, New Zealand, Malaysia and Singapore follow the land title registration system.

Apart from providing a single window to handle land records and registration of immovable properties, the title registration system will ensure automated and automatic mutation of title in land records and also provide title insurance to insulate the title holder from liabilities arising out of defects in the title.

With the use of satellite images and aerial photographs, physical land surveys will be done away with. In short, at the click of a button, any government agency will be able to check physical condition and title details of any property and it would put an end to land grabbing and registration of fraudulent documents. Also, with the availability of all land data online, seamless integration would be possible for micro and macro-planning, said an official.

Source: The Times of India, Chennai

Resale property market turning hot in Chennai

COIMBATORE, MAY 9: As the property prices are on the rise and new apartments at affordable price ranges are difficult to secure within the city, resale market for existing properties is becoming hot in Chennai.

What is driving their demand, apart from the gap in the rates of new and old properties, is their location and HDFC, which organised a two-day event in Chennai recently, only expects this demand to grow.

Speaking to Business Line, Mr Mathew Joseph, Senior GM and Regional Business Head, Tamil Nadu and Andhra Pradesh, HDFC, Chennai, said around 400-450 people visited the programme organised at HDFC's branches in the city on April 28 and 29.

Enquiries were coming in even after the event ended. He said this was for the first time HDFC had sponsored such an event and it was able to ‘create a standard'.

He said apart from the difference in rates between new and old properties, what was creating demand for re-sale properties was their location. New properties might not be coming up at desired locations to meet the demand or high prices could be a barrier.

Explaining the purpose behind the HDFC initiative, he said the event was organised by HDFC with the ‘objective of assisting and counselling customers' who wanted to buy resale properties. The focus was on advising customers on the ‘intricacies of the legal and technical aspects of buying resale properties'. HDFC held the show on the basis of the feedback from customers who have regularly sought its opinion on these critical aspects.

This was the first in-house event of its kind at HDFC, Chennai. Three years ago it had conducted a re-sale show at an external venue where HDFC had invited leading property consultants to showcase re-sale properties. But this time it organised a ‘Resale Weekend' at its four city branches — Anna Salai, Adyar, Anna Nagar and Kodambakkam — to offer legal and technical guidance only for resale properties.

GROWING TREND

Asked whether there was any spike in demand for re-sale properties, Mr Mathew Joseph said there was an increase in demand year-on-year for resale properties. At present, approximately 10 per cent of the loans advanced by HDFC in Chennai was for purchase of re-sale properties.

He expected this trend to grow. One of the reasons for home buyers looking at this option was the pricing of such properties and a greater possibility of negotiating terms with the sellers. That the properties are ready-to-move-in homes was another attraction.

But a more important factor that drives the growth of re-sale property market was they are available at locations where the buyers want to live because of proximity to educational institutions, health care facilities, places of worship or music sabhas or as the buyers could live closer to their older parents.

He did not notice any particular preference for geographical areas among the buyers and the demand was for all prime locations in Chennai, with the choice being driven by need.

On factors on which HDFC would decide to clear a loan proposal, he said HDFC would approve loans for properties that complied with the rules of CMDA or the relevant applicable authority.

BUILDING AGE

With regard to the age of the building, while there was no specific restriction in terms of the age, on a general basis it considered properties which are up to 20 years old for funding.

However, HDFC's in-house technical experts would inspect these properties to ensure they are in good condition from a technical point of view and are marketable.

Mr Joseph said HDFC would fund a maximum loan of 80 per cent of the cost of a re-sale property and for a maximum term of 20 years subject to the borrowers' individual creditworthiness.

He said HDFC itself may not have a separate portal to list re-sale properties for prospective customers to choose from as it has two subsidiaries — HDFC Red and HDFC Realty — that list online properties available for sale.

Source: http://www.thehindubusinessline.com/industry-and-economy/article3401421.ece?homepage=true&ref=wl_home

Rise in 2 and 3 BHK homes in Tamil Nadu

Chennai

If quality of housing is an indicator of the finances of households, the middle class and the rich are on the rise in Tamil Nadu. And, going by the household details in the latest census data released on Tuesday, the number of poorest of the poor and the super rich is on the wane.

A comparative study of the 2001 and 2011 census figures shows that the percentage of households in the state with no exclusive bedroom has dropped from 11.1% to 8.4%. Similarly, single bedroom houses have reduced from 42.3% to 39.7%. Though five bedroom houses have also decreased marginally from 1.6% to 1.5%, in actual terms they have increased by 56,000 units. Those with six bedrooms and more have dropped from 1.8% to 0.9%, marking a fall of 86,000 units in actual numbers.

On the contrary, there has been a considerable increase of two bedroom and three bedroom households. While the two bedroom households has gone up by 3.7%, from 26.8% to 30.5%, those with three bedrooms have gone up by 1.8%, from 11.9% to 13.8%. Those with four bedrooms too have gone up marginally, from 4.6% to 5%.

Still, it is a matter of concern that Tamil Nadu’s share of households without a separate bedroom is more than double that of the national average of 3.9%. As regards houses with one bedroom too, the state average is slightly above the national average of 37.1%. In all other categories of houses – two bedrooms and upwards – which are indicators of upbeat finances, the state is below the national average by 0.7% to 2.5%.

But these figures do not always reflect the ground reality, because the addition in the middle class and upper middle class may partly be due to the migrant population. Also, these figures have to be seen in the light of a 31% decadal increase in the overall households, from 1.4 crore to 1.84 crore, in the state, said an official.

In actual terms, the households with no exclusive bedrooms has decreased by only 14,439 units over the past one decade, whereas those with one bedroom has gone up by 13.46 lakh units during the same period. In the two bedroom segment, there has been an addition of 18.46 lakh units in 10 years. The increase is 8.66 lakh units in the three bedroom segment. Still, overall, the parameters are positive, said the official.

“People who were in the low income group earlier are able to afford better houses of their choice with more space now owing to a hike in their income. On the other hand, there is a marginal decrease in big houses. This could be owing to a breakup of joint families,” said D K Srivastava, director, Madras School of Economics.

Source: The Times of India, Chennai

Tamil Nadu awaits clearance to set up waste management plant

Chennai

The environmental clearance granted by the Tamil Nadu government to the Chennai Corporation’s to set up an integrated solid waste management plant at Perungudi has been set aside by the National Green Tribunal. Times Property has more on the case that will see a new beginning under the jurisdiction of the Union Ministry.

The unending debate surrounding the issue of waste management and garbage clearance in the city, in the past few years, has involved environmentalists, activists, city planners and government officials. While suggestions have been made in the past to shut down the dumping yards at Perungudi and Kodungaiyur and replace them with integrated solid waste management plants, no concrete solution has been arrived at. The Corporation’s suggestion to set up an integrated solid waste management plant at Perungudi was strongly opposed and the case been facing legal hurdles, finally came to a close.

India’s first dedicated environmental court, the National Green Tribunal (NGT) in its first ever hearing in the city on February 24, set aside the environmental clearance granted by the Tamil Nadu government to set up the plant at Perungudi. Hearing the appeal by V Srinivasan against the Tamil Nadu State Level Environment Impact Assessment Authority and others, the tribunal headed by Justice C V Ramulu, passed the judgement stating that the site of the proposed plant was less than 10km from the Guindy National Park and that the project fell within Category A and the Union government (Ministry of Environment and Forests) alone could issue environment clearance (EC).

The appellant, V Srinivasan of the Save Pallikarnai Forum, said, “Following a public hearing in 2010, a case was filed against the Tamil Nadu Pollution Control Board (TNPCB) and a stay order was issued on the commissioning of the plant by the National environment Appellate Authority, which was in-charge prior to the constitution of the NGT.” He explained further, “The Environmental Impact Assessment (EIA) notification of 2006 classifies industrial projects in two categories – A and B.

Any project site within a 10-km radius from a national park or a protected area, falls under category A, such as the case at Perungudi, and permission for a clearance could be obtained only from the Union Environment Ministry.

However, following an incorrect EIA report, the project was considered in category B all along.” The demand of our forum, is to close down the dumping yard as it affects the Pallikarnai marshland and has led to its deterioration over the years. “As per the wetland rules of 2011, ay landfill has to shut down within a period of six months, but no action has been taken against the facility,” he added. Unless the Corporation does not devise a concrete source segregation policy and set up Zonal level plans, the issue will persist.

Ritwick Dutta, counsel for the appellant, strongly argued against the clearance granted by the State Government and proved the EIA report, commissioned by a private consultant, concealed critical facts relating to the commissioning of the plant. “The issue needs to be viewed in terms of environmental governance and the consultants have concealed critical information in the EIA report, which is biased. The report should be nullified under charges of concealment of information,” he argued and appealed to the bench to frame criminal charges against the consultants.

On hearing both sides of the issue, Justice Ramulu, said, “When we entertained a doubt about the distance of this project from the Guindy National Park [GNP], we directed the Principal Chief Conservator of Forests/Chief Wildlife Warden to get the aerial distance [between the project site and the GNP] on October 18, 2011. Following which, the Principal Chief Conservator of Forests (PCCF) and the Chief Wildlife Warden (CWLW) submitted a report on November 25, 2011, stating that the distance between the two nearest points of project site and GNP to be as 5.6 km and 6.2 km.”

“Though the TNPCB tried to justify the distance to be beyond 10 kms and (distance measured along the road connecting the two areas), the case will be heard by the Union Ministry (Moef). The bench is in full agreement with the appellant that the report prepared and accepted by an authority with no jurisdiction cannot be accepted blindly to grant an environmental clearance (EC),” he added.

What is the National Green Tribunal?

The NGT, a multimember judicial body comprising of Judicial and technical members was set up in 2010 and became operational from July 4, 2011. The Chennai Bench has jurisdiction over the States of Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. At present the NGT has two judicial members, Justice A.S Naidu, acting Chairperson and Justice C.V Ramulu, Judicial Member. In addition it has four technical members, Vijay Sharma, Devendra Agrawal, Professor N Nagendran and Dr G K Pandey.

The NGT has jurisdiction over Forest (Conservation) Act, 1980, the Environment (Protection) Act, 1986, the Air Act and Water Act besides the Biological Diversity Act. Among the most significant powers of the NGT is with respect to the power to award compensation and damages to victims of environmental disasters and cost for restoration of the ecology.

Since its inception, the NGT has delivered significant orders/ judgments in a number of cases such as the order requiring mandatory radiation impact assessment for thermal power plants, the need for cumulative impact assessments for dams and proper cost benefit analysis. The NGT is presently hearing appeals against some of India’s most controversial and talked about projects such as Posco’s Steel plant in Orissa, the Lavasa project in Maharashtra, the Jaitapur Nuclear power plant at Maharashtra, the Lower Demwe Project in Arunachal Pradesh.

Nidhi Adlakha, Times Property, Chennai

Source: http://content.magicbricks.com/tamil-nadu-awaits-clearance-to-set-up-waste-management-plant

Trichy witnesses increased interest from home buyers

Chennai/Trichy

It is aptly called the heart of Tamil Nadu, and located in a manner that a trip to either the southernmost tip of Tamil Nadu, Kanyakumari or the capital, Chennai is approximately a six-hour drive.

In many ways, the simple life that the city professes – has inspired many from different parts of the State, to invest in the city and its charms. Their dream home, after all, needs to be located in a land of peace. And Trichy is the ideal destination for more reasons than one.

TRANSPORT

It is one of the most accessible cities, connected by a vast network of roads, railways and air routes. It is also home to the South Indian Railway Company, established during British rule. Frequent train services to all parts of South India begin here and domestic flights fly in and out of the city regularly.

INDUSTRIES

Trichy is home to industrial giants like Bharath Heavy Electricals Limited (BHEL), Indian Ordnance Factory, Trichy (OFT) and Cethar Vessels, have helped the city grow in providing employment and better living standards. “Trichy has grown massively in the industrial sector and many companies are looking at invest in the city today,” says S Senguttavan, CEO, G K Industrial Park, “Currently, there are eight companies from Malaysia, Chennai and Coimbatore that operate in the park and we planning to open more in the future.” Such industries and parks help in the improvement of the city’s outskirts.

CENTRE OF LEARNING

One of the most important features of the city is its many educational institutions. It is said that even during the British era, these institutes were recognised as renowned centres of learning. Colleges like Bishop Heber and St Joseph’s were established during this period. Nationally renowned institutes like Indian Institute of Management (IIM), National Institute of Technology (NIT), Bharathidasan Institute of Management (BIM) and Sastra University are all located in the city and provide many opportunities to the student community. “As an institution, NIT has grown over the years and ensured quality education to students who come here from different parts of the country,” says Dr S Sundarrajan, Director, NIT.

HEALTHCARE

Trichy is well and truly a healthcare hub. Leading medical stalwarts like Vasan Health Care, Kaveri Medical Hospital (KMC) and the recent foray of Cethar Vessels into the scheme of things, has made the city an ideal destination for the healthcare industry. Dr S Chandra Kumar, Managing Director, KMC, believes that the city has grown at a significant rate in its health standards over the last five years. “We have performed over 100 renal transplants, 500 open heart surgeries and a joint replacement surgery too,” he says, “We also offer health services for rural people at subsidised rates and have plans to promote better health standards in general.”

A RETIREE’S RETREAT

Trichy is highly regarded as a retirement paradise and many elderly folk have settled down here, enamoured by its peace and quiet. People like investing in small houses or flats and thus get some rest in this city, which is still a small town at heart. P Arunachalam who has recently launched with a retirement gated community – Ponni Delta in the city believes that factors like low congestion and less pollution make Trichy a preferred retirement destination. “Trichy is a Tier Two city that guarantees a peaceful retired life at an affordable price,” he says, “We thus came up with the concept of providing high-end facilities like security, housekeeping and health services apart from other factors that promote peaceful lifestyle to senior citizens.”

A HUB OF INVESTMENT

Given all these favourable qualities, Trichy has now become a major destination for real estate players to set up base. Many gated communities, high-rise apartments and villas are now being constructed. “The construction of large-scale gated communities has led to the growth of the city and has increased its land and market value,” says B Senthil Kumar, Secretary, CREDAI Trichy who feels that the most important reason behind big investments is the fact that the city is one of the safest regions in the State. “The government should now develop water and transportation facilities to ensure that uniform development takes place,” he signs off.

Source: Times Property in The Times of India, Chennai

With 42 green buildings, city leads the pack

CHENNAI: The state may be hobbled by a severe power shortage, but its capital is home to more green buildings than any other city in the country. Chennai is home to 42 of the 212 structures in India that are certified as eco-friendly by the Indian Green Building Council (IGBC).

Chennai is followed by Mumbai, with 29 green buildings, and the National Capital Region (28), among cities awarded Leadership in Energy and Environmental Design (LEED) certification by IGBC. Hyderabad and Bangalore are tied in fourth place with 24 each and Kolkata is sixth with eight.

Tamil Nadu tops the states with 47 green buildings and 57 more have been registered for certification in 2011, a big increase over previous years. Sriperumbadur has three green buildings , Tirupur, two, and Madurai , Salem, Siruseri and Coimbatore have one each.

Among the green buildings in Chennai are the Turbo Energy office complex in RA Puram, Menon Eternity in Alwarpet and Shell Business Service Centre, all with platinum certification, the highest rating. Platinum is followed by gold, silver and certified ratings, based on sustainability, waste management , use of natural resources and indoor environmental quality.

Anna Centenary Library and the new Tamil Nadu assembly building are gold-rated as is Express Avenue Mall.

Viswa Syamalam, a house in Madipakkam, is one of only two individual homes in the country to have received a green rating . It was awarded platinum rating in 2009. The other green home is in Hyderabad.

"People in Chennai have been proactive about green buildings," says Sathiaram Ram, managing director of En3 Sustainability Solutions Pvt Ltd, a green building consultancy in Chennai. "The Confederation of Indian Industry (CII) is also promoting the concept."

What is a green building?

A green building is one that uses less water, is high on energy efficiency and sustainability, generates lesser waste, conserves more natural resources and has a better indoor environmental quality than a conventional building

Green Is Gold For State Builders

Tamil Nadu Developers Grab Business Opportunity As Eco Buildings Get Popular; Clients Save On Energy, Water Bills

Today's monoliths of concrete, glass and steel will soon be replaced by green, selfsufficient buildings and towns. Eco-friendly blueprints are off the drawing board, hauled onward by energy-saving rafters and photovoltaic louvres on gigantic cranes, as the cities of the future rise from the grime of urban sprawl.

While these new cities are taking shape in China, the United States and various European countries, builders in Tamil Nadu are getting into the act too, constructing ecologically sustainable buildings that generate their own power, stay cool with cornices covered with native plant species that require little water and save electricity with occupancy sensor-fitted lighting.

According to the Indian green building council (IGBC), there has been a sharp increase in the number of buildings in Chennai that have been awarded green certification over the past three years.

Chennai leads the country with 42 green buildings with leadership in energy and environmental design (LEED) rating. Only 10 buildings in the city won the rating from 2004 to 2008, while 37 buildings received the rating between 2009 and 2011. Experts attribute this to rising ecological awareness as well as business opportunity: Green certification gives builders a new branding option.

"For a consumer, the green certificate is a third party validation, just like a college degree. They are ready to pay more for a green building," says Sathiaram Ram, managing director of En3 Sustainability Solutions Pvt Ltd, a green building consultancy in the city.

A green certificate is also a sign of corporate social responsibility. "Many IT companies have adopted the concept as company mandate or an initiative for sustainability ," Ram says.

There is also a rise in the number of buildings that have been registered for green certification , with builders needing to ensure that the structure meets certain parameters in terms of sustainability, waste generation and conservation of natural resources.

Fifty-seven buildings were registered with IGBC for green certification in 2011, 13 buildings in 2010, and 25 in 2009. The rating is divided into four categories , based on how ecofriendly the structures are, with platinum at the top, followed by gold, silver and certified buildings.

At Rane Institute for Employee Development (RIED), Perungudi, workshops and conferences are conducted in which participants can see the benefits of an energy efficient building. The RIED building, a silver-rated green building, is equipped with low-flow showers and sinks and solar PV cells to reduce water and energy consumption.

"The building is well lit to ensure we do not have to use artificial lighting during the day. At other times, we use compact fluorescent lamps that save electricity up to 20%," says N Hari Babu, vicepresident , RIED.

"Although it costs more to construct a green building, the returns are high," says a spokesperson for the IGBC. "The government should provide initiatives to encourage green developers. Green builders are provided incentives in Pune and Greater Noida . A lot of people also opt for green certification as it makes it much easier to get environmental clearance."

Investment For Future

Constructing a green building costs 3% to 5% more than a normal building, but subsequent expenditure is low. On an average, these buildings consume 40% to 50% less energy than a normal building and cut water consumption by as much as 40%

Pride Of Chennai

Chennai has the largest number of green buildings, with almost 42 certified projects over the last seven years. Chennai also has one of two green certified independent bungalows in the country

Green Building Ratings In India

In India, the IGBC (Indian Green Building Council) gives the LEED (Leadership in Energy and Environmental Design) rating, a system which rates buildings on design, construction and operation and offers four certifications for new constructions: Certified, Silver, Gold and Platinum

Adarsh (Association for Development and Research of Sustainable Habitats) founded by Teri (The Energy and Resources Institute), New Delhi, and the ministry for new and renewable energy, (government of India) also issue Griha (Green Rating for Integrated Habitat Assessment) to deal with small residential complexes and homes. Griha ratings range from one star to five star

Some Green Buildings In Chennai

World bank building olympia technology park tamil nadu legislative assembly anna centenary library express avenue mall

Source: http://timesofindia.indiatimes.com/city/chennai/With-42-green-buildings-city-leads-the-pack/articleshow/11867597.cms

Tamil Nadu is 2nd-most transparent in real estate deals

Chennai:  Tamil Nadu ranked second in the Indian Real Estate Transparency Index 2011 among 20 states surveyed, according to a report by real estate services firm Jones Lang LaSalle.

The ranking was based on factors such as availability of market information, reforms in urban local bodies, progressive business environment, protection of property rights and inclusive and sustainable development.

Tamil Nadu also ranked second in inclusive and sustainable development, reforms in urban local bodies and availability of market information and third in protection of property rights.  However, it came only ninth in the progressive business environment category.

Neighbouring Andhra Pradesh, which is ranked first, overall, is way ahead of Tamil Nadu on progressive business environment, according to the Index.

Real estate services related to land records and registration and water supply services are perceived as being corrupt in Tamil Nadu, as per the India Corruption Study 2008 by Transparency International India. However, these problems are likely to be alleviated in the long run as all reforms related to computerisation of land records have been initiated and are in progress, the study said."Tamil Nadu rates highly on market information, urban reforms and property rights. In the report, Economic Freedom of States of India published by Academic Foundation, the state ranked high on legal structure and security as well as regulation of labour and business, due to its good governance," the study said.

Source: http://www.ndtv.com/article/tamil-nadu/tamil-nadu-2nd-most-transparent-in-real-estate-deals-158357