A leading lender has reduced its Marginal Cost of Funds-based Lending Rates (MCLR) on select tenures by up to 10 basis points (bps), providing relief to borrowers whose loans are linked to the MCLR regime. One basis point is equal to one-hundredth of a percentage point. The revised MCLR rates came into effect from September 7, 2026. Following the revision, lending rates now range between 7.90% and 8.60%, depending on the loan tenure. Earlier, the rates ranged from 8.00% to 8.65%. The overnight MCLR has been reduced to 7.90% from 8.00%, while the one-month MCLR has also been cut to 7.90% from 8.00%. For the three-month tenure, the rate has been reduced to 8.05% from 8.15%. The six-month MCLR has been cut to 8.25% from 8.30%, while the one-year MCLR has declined to 8.35% from 8.40%. For longer tenures, the two-year MCLR has been reduced to 8.45% from 8.55%, while the three-year MCLR has been lowered to 8.60% from 8.65%. The reduction could provide some relief to eligible borrowers by lowering their interest burden, depending on their loan agreement, reset terms and applicable lending rate.

The Tamil Nadu Registration Department has announced a series of reforms for 2026-27 aimed at making property registration more accessible, reducing the workload of registration officials and strengthening checks against fraudulent property transactions. The reforms, announced as part of the department's demands for grants for the financial year, focus on expanding digital services, improving document verification and reducing congestion at registration offices. One of the key measures is the integration of the Hindu Religious and Charitable Endowments (HR&CE) Department and the Waqf Board with the Registration Department's STAR 2.0 system. Through API-based integration, authorised officials will be able to directly update details of properties that are prohibited or restricted from registration. The department will also introduce real-time verification of death and legal-heir certificates through API technology. Certificate numbers submitted during the registration process will be verified electronically as soon as they are entered into the system. The move is expected to prevent fraudulent registrations involving fake or invalid certificates. Another major change involves the reorganisation of Sub-Registrar Office jurisdictions. Under the new arrangement, an entire revenue village will come under a single registration office, which is expected to simplify jurisdiction-related issues for property owners and buyers. To reduce queues and congestion, the department plans to establish 25 model registration hubs across North Chennai, Central Chennai, South Chennai, Chengalpattu and Coimbatore North registration districts. The department also plans to expand presenceless registration in phases. From September 15, registration of deposit of title deeds and receipt documents relating to loans obtained from banks and non-banking financial companies will be made mandatory through the online system. The reforms also include a Rs 1 crore allocation for training registration officials to improve their ability to operate digital systems and implement the new procedures. In another administrative change, mandatory Saturday duty will be discontinued in 100 Sub-Registrar Offices, with the move aimed at reducing the workload of officials. The latest reforms mark a broader shift towards digital property registration in Tamil Nadu, with greater emphasis on online verification, electronic records and technology-based safeguards. The measures are expected to make property registration more transparent and convenient while strengthening the system against fraudulent transactions.

The Tamil Nadu government has finalised Foreshore Estate in Chennai as the location for the proposed new Assembly-Secretariat complex, government sources said. The Tamil Nadu Housing Board (TNHB) and the Greater Chennai Corporation (GCC) have granted permission for the proposed complex to be developed on around 25.16 acres of land. The government is expected to issue an in-principle administrative sanction for the project shortly. The proposed main building will be a 15-storey structure with around 20 lakh sq ft of built-up area. The project has been estimated to cost approximately Rs 1,200 crore. The land has access from Santhome Main Road and carries a reported guideline value of around Rs 22,000 per sq ft. Based on this rate, the estimated guideline value of the land is around Rs 2,047 crore. The government had earlier examined three possible locations for the project, including Foreshore Estate, a government research facility area in Guindy and land near the FinTech development zone in Nandambakkam. Foreshore Estate was selected due to the availability of a large contiguous government land parcel. The Housing Board has permitted the public department to use around 21.37 acres of its land. The land was originally acquired for housing projects and was subsequently used for government employees' quarters. Over the years, around 1,380 residential quarters had been constructed on the site. Most of these structures became dilapidated and were subsequently demolished, leaving a substantial portion of the land vacant. Steps are also being taken to remove the remaining old quarters. The Housing Board has requested that the value of its land be assessed and paid in accordance with government rules. It has also suggested that alternative government land could be considered as compensation, subject to availability. Additional parcels belonging to other government departments and the civic body are also being considered for inclusion in the project. The civic body has granted permission for the use of around 0.93 acres of land classified for road-related purposes. With the additional government land included, the overall project site could cover approximately 26.5 acres, according to government sources. The proposed complex is expected to feature modern administrative infrastructure, improved security systems, fire-safety facilities, accessibility provisions and adequate parking arrangements. The project is also likely to increase infrastructure and economic activity in and around Foreshore Estate, Santhome and Mylapore. Real-estate experts may closely monitor the development for its potential impact on property demand, rental activity and commercial growth in the surrounding areas. The project will now move through the necessary administrative, technical, design and tendering procedures before construction begins.

Construction activities at the Pallikaranai Marshland have come under strong opposition over concerns that the project could affect the wetland’s natural water flow and increase the risk of flooding in surrounding areas. The works, being carried out under the Neithal Restoration and Conservation Work, include a nearly 3-km-long, six-foot-high retaining wall and a 2-km-long walkway. Those opposing the project have urged the Tamil Nadu government to immediately stop the construction, remove structures already built in the marshland and restore the affected areas. Environmental concerns have been raised that the retaining wall and walkway could obstruct the natural movement of rainwater into the marshland. This could potentially lead to waterlogging and flooding during heavy rainfall, particularly as Pallikaranai serves as an important natural water-retention area for Chennai. There are also demands for the removal of encroachments and the official demarcation and notification of the marshland’s boundaries. The wetland is estimated to have declined from around 15,000 acres historically to nearly 1,750 acres today due to encroachments and urban development. Environmental groups and those opposing the construction have called for restoration measures to focus on protecting the remaining wetland, maintaining natural drainage channels and preventing further encroachment. They have warned that mass protests could be launched if the construction is not halted, putting renewed focus on the protection of Pallikaranai Marshland and Chennai’s flood-management system.

The Tamil Nadu government has announced plans to construct a new integrated complex in Chennai to accommodate the state Legislative Assembly and Secretariat. The project is estimated to cost around Rs 1,200 crore and will be developed over an area of approximately 20 lakh sq ft. The proposed complex will be developed with modern infrastructure and facilities to support legislative, administrative and public-service functions. The project is aimed at bringing various government departments and related services together at a single location. According to the plan, the complex will include modern facilities for government departments, officials and public service centres. The integrated arrangement is expected to improve coordination between departments and make it easier for citizens to access government services. The proposed building will also feature modern fire safety systems, security infrastructure and facilities for persons with disabilities. Adequate parking facilities are planned as part of the development to cater to officials, employees and visitors. The government is planning the complex as a modern administrative facility with infrastructure designed to improve both public access and the day-to-day functioning of government offices. The large-scale project could also have an impact on the surrounding urban infrastructure. Improved connectivity, supporting commercial activity and increased demand for services could influence development in nearby areas once the project progresses. With an estimated investment of Rs 1,200 crore and a planned area of 20 lakh sq ft, the proposed complex is expected to become a significant government infrastructure development in Chennai.

Tamil Nadu is set to undertake a major digitisation exercise covering historical property records, birth and death registers, and other documents maintained by the Registration Department. The initiative will involve scanning 11.14 crore pages of previously unscanned records and converting around 7.06 crore old Encumbrance Records dating from 1865 to 1974 into searchable digital data. The project will also cover nearly 5.68 crore birth and death records up to 2018, according to the tender issued for the digitisation exercise. The department has identified 2.22 crore documents created between January 1, 1865 and July 5, 2009, that had not been scanned during earlier digitisation programmes. The latest exercise will focus on these missed and unscanned records and will not duplicate documents that have already been digitised. Encumbrance records from 1975 onwards have already been digitised, while the latest project will focus on the remaining historical records from 1865 to 1974. The digitisation process will include scanning, data entry, meta-tagging, indexing and verification. Physical records will be scanned within the respective Sub-Registrar Office premises and will not be permitted to be taken outside. Scanning is expected to take place from 8 am to 8 pm on weekdays, while the 100 offices handling the highest volume of records will also operate on Saturdays. At least 2,000 data-entry operators are expected to be deployed across two shifts, with a target of processing around four lakh records a day. Progress will be monitored through a dedicated dashboard, with penalties proposed for failure to meet prescribed targets. The project will also introduce strict security measures. USB ports on workstations will be disabled, while biometric authentication will be used for scanning and verification personnel. The system will maintain records identifying those involved in scanning and verifying documents. The government has set a 14-month deadline for completing the digitisation exercise. The move is expected to improve access to historical property information, simplify document verification and reduce dependence on physical archives. For property buyers, lawyers and other real estate stakeholders, searchable historical Encumbrance Records could make ownership and transaction-history checks more efficient. The large-scale exercise is also aimed at preserving decades-old government records while moving Tamil Nadu's property and civil registration records towards a more accessible digital system.

The Tamil Nadu Registration Department has initiated a major digitisation programme to convert decades-old property records into searchable digital databases. The initiative is expected to improve property verification, simplify access to historical documents and strengthen measures against fraudulent transactions. The government has sanctioned the digitisation of around 2.23 crore documents, covering an estimated 11.15 crore pages. The exercise will include historical property records dating back to 1865 and is expected to address gaps left by an earlier digitisation programme. As part of the initiative, approximately 23 lakh pages of older property records will be covered. The department will also digitally record information from nearly 5.69 crore birth and death records. A major component of the project involves recording encumbrance-related details from documents registered between 1865 and 1974. Making these historical records searchable is expected to help property buyers and owners trace ownership histories and identify inconsistencies, duplicate transactions and potentially forged documents. The digitisation programme is expected to cover records maintained across 581 sub-registrar offices in nine zones of Tamil Nadu. After processing and verification, the digitised property records are planned to be migrated to the department's STAR 2.0 digital platform. The entire project is expected to be completed within 14 months. Digitisation is targeted for completion by the 13th month, while the final month will be dedicated to verification and handover. The scale of the exercise will require approximately 1.2 petabytes of digital storage. Data-security measures will also be incorporated, including batch-level audit trails, fingerprint-based authentication and digital signatures. The digitised records will be stored at the state data centre in Perungudi within a secured environment maintained by the relevant government technology agencies. The tender process is scheduled to proceed in September, with bids expected to open on September 15 and close on September 23. The initiative is expected to provide significant benefits to Tamil Nadu's real estate sector. Easier access to historical registration records could help homebuyers and landowners conduct ownership checks more efficiently, while improved digital records could support efforts to prevent property-related fraud and increase transparency in property transactions.

Tamil Nadu has announced a major package of housing and urban development reforms aimed at speeding up building approvals, digitising land-use procedures and providing financial relief to housing borrowers. The government has proposed Rs 2,882.62 crore for the reconstruction of 12,648 dilapidated flats across 20 project areas. The programme is intended to address ageing residential buildings and improve housing conditions for residents. As part of the reforms, self-certification for residential buildings will be expanded to projects of up to 5,000 sq ft. The facility will also cover small commercial buildings of up to 1,500 sq ft, helping eligible applicants reduce approval-related delays. The government will also digitise the entire land-use change application process. The move is expected to reduce paperwork, improve transparency and make applications easier to process and monitor. Local-body approval limits for residential construction will also be increased. The proposed limit will rise to 16,140 sq ft for corporations and municipalities and 12,912 sq ft for town and village panchayats. For commercial buildings, the approval limit will be increased to 5,380 sq ft across local bodies. The government is also planning to streamline the reclassification of wet agricultural land in non-planned areas through a multi-departmental clearance mechanism. In another major relief measure, an interest-waiver scheme is proposed for borrowers of primary cooperative housing societies who have defaulted on repayments. The initiative is aimed at reducing the financial burden on eligible housing borrowers. The reforms are expected to simplify construction approvals, accelerate housing redevelopment and strengthen digital governance in Tamil Nadu's urban development sector.

Residents of five neighbourhoods in Velachery have urged authorities to exclude their areas from the Pallikaranai Marsh influence zone, citing difficulties in obtaining housing approvals and carrying out property transactions. The affected neighbourhoods include Tansi Nagar, VGP Selva Nagar, Balamurugan Nagar, Annai Indira Nagar and Vijayanagar. Residents said the inclusion of these areas in the marsh's buffer or influence zone has created uncertainty for hundreds of families. According to residents, many properties in these neighbourhoods are part of CMDA-approved layouts and have valid pattas and property tax records dating back more than 40 years. However, homeowners said they are facing difficulties in obtaining building plan approvals to rebuild or redevelop old houses. Residents also claimed that the classification is affecting property sales and bank loan approvals, as homeowners face uncertainty over whether redevelopment or construction will be permitted on their properties. The issue comes amid ongoing efforts to protect the Pallikaranai Marsh, an ecologically sensitive wetland recognised as a Ramsar site. The National Centre for Sustainable Coastal Management (NCSCM) is undertaking scientific validation of the marsh boundaries and assessing its ecological zone of influence. Residents have called for a scientific and transparent review of the influence-zone boundaries. They said established residential areas with long-standing property records should be assessed separately from ecologically sensitive portions of the marsh. Homeowners are particularly concerned about ageing houses that require reconstruction. They said restrictions linked to the influence-zone classification are preventing families from undertaking redevelopment despite having occupied the neighbourhoods for several decades. The dispute highlights the challenge of balancing wetland conservation with the rights of residents in established residential areas. Residents are seeking clear guidelines on construction approvals, property transactions and redevelopment permissions while ensuring that the Pallikaranai Marsh continues to receive necessary environmental protection. The outcome of the ongoing boundary and ecological-zone assessment could have a significant impact on housing approvals, property values and future real estate activity in parts of Velachery.

Tamil Nadu has announced a series of housing and urban development measures aimed at simplifying building approvals, expanding digital services and improving housing infrastructure across the state. As part of the proposed reforms, the land-use change application process will be fully digitised to make approvals more accessible and reduce procedural delays. The government will also expand self-certification for residential buildings up to 5,000 sq ft. Self-certification will additionally be introduced for small commercial buildings up to 1,500 sq ft. A third-party certification system is proposed for eligible commercial, residential and industrial buildings. The limits will cover commercial buildings up to 3,230 sq ft, residential buildings up to 8,070 sq ft and industrial structures up to 26,900 sq ft in approved industrial layouts. The approval limits for residential projects handled by local bodies will also be increased. Corporations and municipalities will be permitted to process residential projects up to 16,140 sq ft, while town and village panchayats will have approval limits of up to 12,912 sq ft. Alongside approval reforms, the state has announced a major programme to address ageing and unsafe housing. Around 12,648 dilapidated flats across 20 project areas are proposed to be reconstructed at an estimated cost of Rs 2,882.62 crore. The demolition of 9,918 unsafe units will be taken up as the first stage. The government also plans to spend Rs 96.63 crore on renovating 41,664 older flats. Another Rs 355 crore has been earmarked for improving civic infrastructure across 208 housing sites. A new integrated Smart Habitat Management Platform, estimated to cost Rs 75 lakh, is also planned to strengthen digital management of housing projects and related services. The measures are aimed at making construction approvals faster and more transparent while improving the safety, infrastructure and management of housing projects across Tamil Nadu. Implementation will follow through the relevant government orders and departmental procedures.

Home loan interest rates can have a significant impact on the overall cost of buying a house, particularly when the loan is taken for 20 or 30 years. Even a small change in the interest rate can increase or reduce the total interest payable over the loan tenure. For example, if the interest rate on a Rs 50 lakh home loan rises to 8% for a 30-year repayment period, the additional interest payable could be around Rs 12.32 lakh, highlighting the importance of choosing a competitive interest rate. According to home loan rate data available as of August 19, 2026, borrowers seeking loans above Rs 30 lakh and up to Rs 75 lakh can find interest rates starting from around 7%, depending on the lender, borrower profile and loan terms. Among lenders, the lowest advertised rates currently begin at around 7%, while several other lenders offer starting rates between 7.10% and 7.75%. Some lenders have starting rates above 8%, with the maximum rates varying significantly based on eligibility and loan conditions. The Equated Monthly Instalment (EMI) consists of both the principal repayment and interest component. A higher interest rate generally increases the EMI and the total amount paid over the loan period. A longer repayment tenure can reduce the monthly EMI, but it may substantially increase the total interest paid over the entire loan period. Therefore, borrowers should not choose a loan based only on the lowest advertised rate. Before taking a home loan, buyers should compare the interest rate, monthly EMI, total interest payable, loan tenure, processing charges and the final rate offered by the lender. A lower rate combined with a suitable repayment strategy can help reduce the overall cost of home ownership.

Cement manufacturers in Tamil Nadu are set to receive significant cost relief following the cessation of the Rs 160-per-tonne Mineral Bearing Land Tax (MBLT) on limestone. The development is expected to reduce the raw-material cost burden on cement producers and provide some relief to an industry that has been facing pressure from fuel, energy, and transportation expenses. The change follows the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, which was passed by both Houses of Parliament on August 13, 2026. The amendment is aimed at providing greater stability and predictability to the major minerals sector. The Tamil Nadu government had introduced the Mineral Bearing Land Tax on limestone at Rs 160 per tonne from April 4, 2025. Since limestone is one of the primary raw materials required for cement manufacturing, the levy directly increased production costs. The additional burden contributed to an increase in cement prices across parts of South India. Although some of the price increases were subsequently reversed, the tax continued to affect the cost structure and profitability of cement manufacturers. With the cessation of the levy, producers will no longer have to bear this additional cost on limestone, providing immediate relief to their operations. Limestone plays a critical role in cement manufacturing. Large quantities of limestone are processed to produce clinker, which is then ground with other materials to manufacture cement. Because of the high volume of limestone required, even a relatively small charge per tonne can create a substantial financial burden for large cement producers. The removal of the Rs 160-per-tonne levy is therefore expected to have a meaningful impact on the industry's overall cost structure

The withdrawal of the tax does not automatically mean that cement prices will fall by Rs 160 per tonne.

Cement prices are influenced by several factors, including:

• Fuel and power costs

• Limestone and other raw-material prices

• Transportation and logistics expenses

• Market demand

• Regional supply

• Production capacity

• Dealer margins

• Competition among manufacturers

The amendment to the Mines and Minerals (Development and Regulation) Act, 1957, is intended to bring greater long-term stability to the major minerals sector. Importantly, the amendment does not completely remove state governments' authority over land and minerals. States will continue to receive a substantial share of taxes and statutory payments generated from mining activities. The amendment also does not take away the existing powers of state governments to regulate and impose taxes on minor minerals. Tamil Nadu has a significant cement manufacturing base and an established limestone supply chain. The removal of the levy is therefore particularly relevant to manufacturers operating in the state. The cessation of the Rs 160-per-tonne limestone tax is a major cost-relief development for Tamil Nadu's cement industry. The move is expected to reduce raw-material expenses, improve operating margins, and strengthen cash flows for manufacturers. The benefits could extend beyond cement producers to the broader construction and real estate sectors if lower input costs eventually translate into more stable cement prices. For Tamil Nadu's cement industry, the removal of the limestone levy provides much-needed relief and could improve profitability at a time when manufacturers continue to face pressure from fuel, energy, and transportation costs.