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The Chennai Metropolitan Development Authority (CMDA) has embarked on a significant endeavour in collaboration with their consulting partner, Cushman and Wakefield, to initiate a comprehensive study entitled 'Housing Demand and Supply within Chennai Metropolitan Area (CMA).' The primary objective of this study is to tackle the complex challenges associated with housing development in the Chennai Metropolitan Area. This proactive approach signifies a crucial first step toward informed, data-driven decision-making in the realm of urban housing development.
The scope of the study is expansive, encompassing various growth corridors within the Chennai Metropolitan Area, including but not limited to Poonamalee, Sembakkam, Tiruverkadu, and Pammal. To gain a comprehensive understanding of the housing dynamics in these regions, the study will delve into multiple demand drivers. These drivers include, but are not limited to, factors like floor space index (FSI) increases and the transfer of development rights. By examining these factors, the study aims to uncover the intricate web of challenges and opportunities within the housing sector.
It is worth noting that the Chennai Metropolitan Area, as of November 2022, had comprised the city of Chennai, spanning the Greater Chennai Corporation, corporations of Tambaram and Avadi, five municipalities, three town panchayats, and 179 village panchayats across 10 panchayat unions, all situated within four districts. This area had covered a landmass of 1,189 square kilometres. However, a significant expansion occurred, resulting in the Chennai Metropolitan Area's footprint growing to a substantial 5,904 square kilometres. This expansion incorporated not only the city of Chennai and the Greater Chennai Corporation but also the corporations of Tambaram, Avadi, and Kancheepuram, along with 12 municipalities, 14 town panchayats, and a staggering 1,321 village panchayats distributed across 22 panchayat unions, all falling under the jurisdiction of five districts. This expansion marked a significant milestone for urban development in the region.
In response to this expansion, the CMDA has taken the initiative to formulate not only the third master plan for the original 1,189 square kilometers but also a strategic regional plan for the newly added area spanning 5,904 square kilometers. This forward-thinking approach demonstrates a commitment to organized and sustainable urban development, which is imperative in the face of growing urbanization and increased housing demands.
Cushman and Wakefield, the consulting partner for this ambitious undertaking, has disclosed that their team will embark on a thorough demand and supply survey, targeting both macro and micro-level aspects of housing in the Chennai Metropolitan Area. The study's approach encompasses not only the present circumstances but also the evolving needs and requirements of the residents in the pre-expansion Chennai Metropolitan Area as well as the newly incorporated regions. This holistic approach ensures that the study takes into account the diverse housing needs of all segments of the population, including premium, middle-income, and low-income groups.
In conclusion, the 'Housing Demand and Supply within Chennai Metropolitan Area (CMA)' study, undertaken in collaboration between the CMDA and Cushman and Wakefield, serves as a commendable effort to address the pressing challenges and opportunities within the housing sector in the Chennai Metropolitan Area. The comprehensive nature of this study, which encompasses growth corridors, demand drivers, and the diverse housing requirements of the population, signifies a commendable stride toward informed and data-driven decision-making in the realm of urban housing development. Additionally, the expansion of the Chennai Metropolitan Area's footprint and the CMDA's commitment to preparing strategic plans for both the original and expanded areas underscore the importance of organized and sustainable urban development to cater to the evolving needs of the region's residents.
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