Posted by On September 9, 2016 after noticing rampant conversion of agricultural land into residential plots across Tamil Nadu State, the Madras High Court had ordered a across-the-board prohibition on registration of plots lacking statutory approvals. This had adversely affected the revenue generated through registrations, to the tune of Rs 300 crore per month after the Court’s Order. For more news updates about Indian Realty, visit plots at sarjapur .
After taking into account the different circumstances, the Tamil Nadu Regularization and Unapproved Layout and Plot Rules, 2017 was notified by the government on Thursday, mandating individual owners and layout promoters to apply for regularization, failing which their properties may have to go without power connection, water supply, and drainage and sewerage facilities.
For regularization of property measuring 1000 sq. ft. Rs 41,000/- has to be paid under a regularization scheme announced by the State Government. In addition, the applicants will have to pay land use conversion charge @ 3% of the market value.
The aforesaid notification is expected to lead to regularization of about 13 lakh unapproved plots. The above said notification of rules was filed in the Madras Court as the connected bunch of PILs is listed for special hearing on May 12. With the notification of the above said rules, which specify the regularization and reservation charges for unapproved plots, owners of around 13 lakh unapproved plots spread across 26,000 layouts stand to benefit. Visit plots in bangalore for latest Tamilnadu Real Estate News updates.
Accordingly, Rs 10/- sq ft would be collected as regularization charge, while Rs 70 would be levied as development charges for plots falling under the city municipal corporations. While the total charges for every square foot in municipal areas range between `Rs 31 and Rs 41, it is Rs 18 for town panchayats and Rs 13 for village panchayats.
A condition uniformly applicable under this notification is the prescription of cut-off date of October 20, 2016, as only those unapproved plots registered before the cut-off date are eligible for regularization. The reason being, Section 22(A) of the Town and Country Planning Act, which was notified on October 20 last year, allowed registration of plots, if it was registered under the category of `housing site’ at least once in the past. The Act further allows regularization of unsold plots that forms part of a layout, in the event a portion of the larger layout was sold through a registered sale deed as on prior to the cut-off date. For latest Chennai real estate news and updates, follow plots near sarjapur.
In case adequate land is not earmarked for open space reservation (OSR), equivalent guideline value should be paid. Application for this purpose is needed to be is needed to be filed with the Competent Authority concerned within six months from the commencement of these Rules.
Howsoever, there are certain exclusions such as water body lands, ‘poramboke’ land, lands reserved for Open Space Reservation, vacant plots blocking access to surrounding plots and a few others lands which are prohibited from getting regularized. Visit bangalore plots for latest Tamilnadu Real Estate News updates.