Chennai Metropolitan Development Authority is an acronym for CMDA. The Tamil Nadu Government formed the CMDA as a statutory organization. The Chennai Metropolitan Development Authority (CMDA) is in charge of regulating physical developments in the Chennai metropolitan area. As a result, the Chennai Metropolitan Development Authority (CMDA) has already made a genius plan that specifies land use permission in all areas of the Chennai metro region.
What is the significance of CMDA in plots?
It is critical to establish a responsible authority to oversee the processes and adhere to the guidelines in order for proper planning/development to take place in a community. This really aids in the formation of a better potential course of action. People will support a CMDA-approved plot if they believe it is legitimate. Though the CMDA approval process is more rigorous than the DTCP, the value of CMDA plots is expected to rise in the future as it falls within the city limits. Similarly, Eternity villa plots in ECR are CMDA licensed, indicating that you are purchasing a plot inside Chennai city limits that will appreciate in value in the future.
The Advantages of CMDA-Approved Plots
- The DTCP and CMDA approvals include the value of owning a plot/land that can be used for a particular purpose that the planning authority has designated.
- The most significant advantage of DTCP or CMDA approval is the ability to obtain property approval. This can also serve as a guarantee that the structure will not be demolished without following the correct procedures for the approved layouts.
- Buildings built on CMDA-approved plots/land are rarely demolished, as it is not encouraged unless there is a clear legal reason. This advantage is not available in plots/layouts that have not been accepted.
- If approval is sought, the property’s value will skyrocket, and the resale value will skyrocket as well.
- Investors can purchase DTCP-approved plots in developing areas that are lacking in infrastructure growth. Whereas CMDA plots are located within city limits, you are purchasing an asset with a sound infrastructure that includes schools, multinational businesses, metro, and flyovers.
- Transparency in land/plot transactions has been improved, and resale has been made easier.
- Banks can also only accept loans or finance the construction or reconstruction of a building if the land has been approved.
Among the various real investment options, plots are the highest. Calculated decision-making contributes to the right investments. Purchasing CMDA-approved plots in ECR ensures a smooth transaction and eliminates potential headaches.