Thirumullaivoyal is a rapidly developing residential neighborhood in the western part of Chennai. It is well-connected to some of the most prominent areas like Anna Nagar, SVT Nagar, Ambattur, Avadi, and SS Nagar. Its unparalleled connectivity and social infrastructure have made buying plots in Thirumullaivoyal a good idea for real estate investors and home seekers.
However, before buying a plot, one should make sure it is approved by the Chennai Metropolitan Development Authority (CMDA).
Chennai Metropolitan Development Authority: An Introduction
Chennai Metropolitan Development Authority is a state government organization. Its prime responsibility is to formulate and implement plans for the development of the Chennai Metropolitan Area (CMA). It is the designated authority for regulating real estate development in the CMA. All building construction plans should also be sent to the CMDA for scrutiny before the commencement of the plan.
Approval of a plan requires the real estate developer to abide by the relevant land usage guidelines. After the approval of the plan, builders need to start their construction before the deadline specified by the CMDA.
CMDA approval does not stop with the start of construction. In fact, after a project has been completed, it is inspected by the CMDA thoroughly to make sure that the developers have adhered to the approved plan.
Benefits of Buying a CMDA-Approved Plot
- Better Appreciation
CMDA-approved plots have a better appreciation and a higher resale value in comparison to plots that are not approved.
- Quick Financing
Banks are more likely to provide financing for construction and reconstruction on CMDA-approved plots.
- Easy Land Transaction
A CMDA-approved plot will have a clear title. Hence, land transactions of these plots are transparent and easy. Their resale process is also simple.
- High Property Value
Due to the lengthy approval process, the valuation of CMDA-approved plots is fairly high. These plots are only approved after a long list of criteria is fulfilled.
CMDA-approved plots available for sale in Thirumullaivoyal are offered by many reputed Chennai-based real estate companies. It is recommended to buy one that fits one’s budget, living needs, and other personal preferences.