The Directorate of Town and Country Planning (DTCP) has cancelled the licence of another affordable housing project in Sector 69 following prolonged construction delays and alleged regulatory violations. The project was developed under the state government's Affordable Housing Policy, which requires developers to complete construction within a stipulated four-year period. However, the development remained incomplete, leading the planning authority to take regulatory action. Following the cancellation, DTCP has restricted the sale of units and the creation of third-party rights in the project. The department has also directed the senior town planner concerned to take over the colony, potentially paving the way for further measures to address the stalled development. The action has created uncertainty for existing homebuyers who are waiting for possession and completion of their homes. The regulatory takeover could now determine the next steps for the project, including how construction and buyer interests may be addressed. The developer has indicated that it plans to challenge the cancellation orders, arguing that the decision is arbitrary and contrary to applicable legal provisions and principles of natural justice. The latest action is part of a broader regulatory focus on delayed affordable housing developments. Another housing project in Sector 109 had previously faced license cancellation after remaining stalled for several years and affecting a large number of homebuyers. The development highlights the risks faced by buyers when housing projects remain incomplete for extended periods. It also underlines the importance of checking project approvals, regulatory status, construction progress, completion timelines, and buyer protections before purchasing an under-construction property.

The Tamil Nadu government has decided not to proceed with the proposed greenfield airport project at the previously selected location, shifting attention towards the future of the acquired land, the search for a new site and expansion of the existing airport.

Acquired Land Under Review Around 1,500 acres had already been acquired for the proposed airport project. Landowners reportedly received compensation of around Rs 35 lakh to Rs 60 lakh per acre for agricultural land, along with compensation for eligible structures. The government now needs to determine whether the acquired land can be retained for another public or industrial purpose or whether some of it should be returned to the original landowners. Officials will also have to examine the legal conditions attached to the original acquisitions before taking a decision.

Why Was the Project Dropped?

The airport proposal faced sustained opposition from local communities, mainly because of the proposed acquisition of agricultural land, residential areas and water bodies. The requirement for a large, continuous land parcel also created environmental and rehabilitation challenges. Concerns over these issues made it difficult to proceed with the original proposal.

Search Begins for a New Site

The government is now expected to identify an alternative location for Chennai's long-pending second airport. The new site will have to meet several requirements, including sufficient land availability, environmental feasibility, connectivity, airspace suitability and minimum impact on agricultural land and settlements.

Existing Airport Expansion Gets Priority

Alongside the search for a new location, the government plans to strengthen the existing airport. The expansion proposal includes additional terminal capacity and improvements to passenger-handling and connectivity infrastructure. Better terminal planning, smoother passenger movement and improved road access could help accommodate rising passenger demand.

Impact on Real Estate

The decision could temporarily create uncertainty in areas that had anticipated airport-led development. However, the eventual selection of a new airport location could create a fresh growth corridor, potentially supporting residential, commercial, logistics and infrastructure development. For property buyers and investors, it is advisable to wait for an officially confirmed location rather than relying on speculation.

What Happens Next?

The immediate focus is on deciding the future of the approximately 1,500 acres already acquired, identifying a technically and environmentally viable site for the second airport, and expanding the existing airport to meet near-term passenger demand. The outcome of these decisions could significantly influence Chennai's future aviation infrastructure and surrounding real estate development.

The Tamil Nadu government has dropped the proposed greenfield airport project at Parandur and announced that an alternative location will be identified for the proposed airport. The government said new sites are currently being considered, with expert teams set to conduct technical feasibility studies before a final location is selected. The new site is expected to be finalised after evaluating factors including land suitability, connectivity and infrastructure requirements. The decision comes amid concerns over the impact of the earlier proposed location on local communities and agricultural land. The Parandur proposal would have required the relocation of a large number of people and affected agricultural areas. The government will now examine alternative locations for the proposed greenfield airport. Expert teams will assess the technical feasibility of the shortlisted sites before the final location is announced The study is expected to consider the availability and suitability of land, connectivity, infrastructure requirements and the potential impact on surrounding settlements and agricultural areas. Alongside the search for a new airport site, the government has announced plans to expand the existing Chennai airport. A fifth terminal is proposed on the north-western side of the airport. The new terminal is expected to handle an additional 20 million passengers annually, significantly increasing the airport's overall capacity. Chennai airport currently handles around 30 million passengers a year. Once the under-construction Terminal 3 becomes operational, the airport's capacity is expected to increase to approximately 34 million passengers annually. The proposed fifth terminal would add another 20 million passengers to the annual capacity, potentially taking the airport's overall capacity to around 54 million passengers per year. The proposed expansion is also expected to have implications for the surrounding real estate market. Higher passenger capacity and improved aviation infrastructure could support demand for residential properties, commercial developments, hotels, logistics facilities and rental housing in well-connected areas around the airport. However, property investors are likely to closely watch the government's decision on the alternative greenfield airport site. Areas surrounding the eventual location could emerge as new development corridors once supporting infrastructure and connectivity plans are confirmed. The immediate priority is to identify and technically evaluate alternative locations for the proposed airport. Until the new site is officially confirmed, property buyers and land investors should avoid making investment decisions based purely on speculation about potential airport locations. The government's next announcement on the new airport site and supporting infrastructure is expected to be closely watched by the real estate and infrastructure sectors.

A comprehensive Geographic Information System (GIS) mapping project using LiDAR technology and survey-grade drones is set to create detailed 2D and 3D maps of properties, utilities and civic infrastructure. The four-month project, estimated at Rs 1.6 crore, will focus on identifying discrepancies in property tax assessments. The mapping exercise is expected to help authorities detect properties where the recorded built-up area is lower than the actual area, resulting in potential revenue losses. High-end drones equipped with multi-oblique cameras and Differential Global Positioning System (DGPS) technology will conduct vertical and horizontal surveys of around 2.4 lakh property assessments.

The survey will help identify:

• Unauthorised additional floors

• Terrace structures

• Differences in floor-wise built-up areas

• Properties with discrepancies between actual and recorded measurements

• Other variations in existing property records

The use of LiDAR and drone-based mapping is expected to provide more accurate measurements than conventional manual assessments. A key objective of the project is to identify gaps in property tax assessments. Differences between actual construction and recorded built-up areas can lead to properties being assessed for lower tax amounts. The GIS database will enable authorities to compare detailed survey data with existing municipal records and identify such discrepancies. This could help improve the accuracy of property tax assessments and strengthen local-body revenue collection. The mapping project will also create a wider database covering 78 parameters related to properties, public assets and infrastructure.

The data is expected to include the locations of:

• Police stations

• Fire stations

• Hospitals

• Public parks

• Streetlights

• Roads and road widths

• Other civic infrastructure and public assets

More than half of the 118.9-km Chennai Metro Phase II project has been completed, while ballastless track laying has progressed to around 67 km, marking a significant milestone in the ongoing infrastructure project. According to project officials, around 32 km of tracks have been laid along one section, 24 km along another section and a further 10.5 km on a third section. Track-laying work is currently progressing at an average pace of about 125 metres per day. Officials said every completed stretch undergoes multiple quality and safety inspections before subsequent construction activities begin. The Rs 63,246-crore Phase II project has achieved 54.62% overall physical progress, according to an update provided to Parliament earlier this month. The project is being regularly reviewed at multiple administrative levels to monitor progress and facilitate timely completion. However, the project has faced delays due to several factors, including the COVID-19 pandemic, shifting of underground utilities, re-tendering of certain station contracts and labour shortages during the state assembly election period. Meanwhile, the first operational stretch of Phase II, covering 14.64 km, has completed the mandatory safety clearances but is still awaiting its formal inauguration. The latest progress in track laying highlights the continued advancement of Chennai's Metro Phase II infrastructure, even as construction timelines remain under review.

 Tamil Nadu’s new presenceless property registration system, Anywhere Registration, began operations on Monday, with around 248 first-sale registrations of apartments and plots completed online on the first day. The system became mandatory from August 17, 2026, for specified first-sale property transactions. Under the new process, eligible property registrations can be completed without buyers or sellers having to physically visit a Sub-Registrar Office (SRO). Of the 248 registrations completed on the first day, 123 were plots and 125 were apartments, according to the Registration Department. Under the new system, builders and developers create dedicated online logins and upload sale documents along with details of the property and parties involved in the transaction. The identity of the parties is verified through Aadhaar-based biometric authentication, including fingerprint and iris verification. The concerned registration office then scrutinises the application and processes the registration. If officials require additional information or documents, applicants can respond through the online system. Once registration is completed, digitally signed registered documents and receipts are made available online. The first phase of Anywhere Registration covers the first sale of plots by developers and apartments by builders, along with certain linked mortgage transactions. The initiative is aimed at reducing physical visits to registration offices, cutting waiting time and minimising physical interaction during the registration process. At present, Memorandum of Deposit of Title Deed (MOD/MODT) transactions can be completed either online or physically at registration offices. The government has indicated that this process is also expected to become fully online in the future. The successful completion of 248 registrations on the first day marks an important step in Tamil Nadu’s transition towards a more digital and presence-less property registration system.

The proposed framework introduces stricter rules for loan interest rates, floating-rate loans, benchmark-linked pricing and borrower protection. The new directions, if finalised, are expected to take effect from April 1, 2027. Under the proposed framework, lenders can offer loans at either fixed or floating interest rates. Interest will generally be calculated on a daily reducing balance with monthly rests. Separate provisions will apply to agricultural loans based on crop seasons. A major change is proposed for floating-rate personal loans and loans to micro, small and medium enterprises (MSMEs). These loans will have to be linked to an external benchmark such as the policy rate, government Treasury Bill yields or other recognised financial benchmarks. Loan agreements will have to clearly mention the benchmark, reset frequency and reset date. For most loans, the benchmark reset period will not exceed three months, while agricultural loans may follow a reset period of up to 12 months based on the crop cycle. The proposed rules also seek tighter control over the spread charged above the benchmark. Credit-risk premiums will have to remain positive and can be revised only after reviewing the borrower's credit profile. Other components of the spread generally cannot be changed for three years, subject to specified conditions. Existing benchmark-linked loans may be migrated to the new framework by April 1, 2029. Borrowers will have to consent to the transition, while lenders will not be allowed to impose migration charges or increase the interest rate to the borrower's disadvantage. The proposed framework aims to bring greater transparency to loan pricing, standardise benchmark-linked interest rates and provide stronger safeguards for borrowers.

The Tamil Nadu government has made online, presence-less registration mandatory for the first sale of plots and flats across the state, in a move aimed at improving transparency and reducing physical visits to Sub-Registrar Offices. Under the new system, the first-sale registration of plots in layouts and flats in apartment projects will be completed entirely through the online registration platform. Builders, developers and applicants will be required to create login credentials and submit registration documents digitally. The new process will also require Aadhaar-based identity verification and biometric authentication. Executants, claimants and witnesses will have to complete fingerprint or iris verification, eliminating the need for them to visit a Sub-Registrar Office for the registration process. Registration applications will be processed within 24 hours. Officials can approve an application, return it for corrections or reject it if the required conditions are not met. Applications returned for rectification can be resubmitted within 30 days. The digital system also introduces additional security features to prevent document forgery. Registered documents will carry the registering authority's digital signature, a dynamic five-colour endorsement and a QR code on every page containing registration-related information. Buyers and other users will be able to download verified registered documents through their online accounts. The documents will remain available for download for 60 days. The initiative forms part of Tamil Nadu's wider transition towards an advanced digital registration system. The government expects the move to make property registration more convenient, transparent and efficient while reducing paperwork and physical interactions at registration offices.

A draft framework has been proposed to standardize how interest rates are calculated and applied on loans and advances, with the focus on improving transparency and ensuring greater uniformity across lenders. The proposed rules seek to streamline practices related to benchmark-linked lending, interest-rate spreads, spread revisions, and interest calculation. They also aim to address operational issues in existing lending-rate frameworks. Under the proposed framework, interest on advances would generally be calculated at monthly rests. For agricultural loans, different provisions have been proposed based on crop duration. Interest on long-duration crops would generally be calculated at annual rests, while short-duration crop loans would be linked to repayment due dates and crop seasons. The proposed changes are not expected to directly alter existing loan EMIs. They also would not automatically place non-banking lenders under the same external benchmark-linked lending requirements applicable to banks. The new framework is proposed to come into effect from April 1, 2027. Stakeholders, financial institutions, and members of the public have been invited to submit comments on the draft proposals by September 11, 2026.

A property-tax controversy in Chennai has highlighted concerns over how some residential properties are assessed. The issue is not necessarily about a general increase in tax rates. Instead, some property owners received significantly higher bills after their property details were reviewed and earlier assessments were found to be inaccurate or outdated.The issue has also raised concerns about the financial impact of reassessment. Property tax is a recurring household expense, so a substantial increase can affect homeowners for years if the revised assessment remains unchanged.

Why Did Some Property Tax Bills Increase?

Revised demands were issued in some cases after property records and earlier assessments were reviewed. The objective was to make the assessment reflect the actual details of the property rather than apply a uniform increase to all properties.

Why Are Homeowners Concerned?

For homeowners, the difference between a tax-rate increase and a reassessment can feel less important when a revised bill is several times higher than the previous amount. Many residents have questioned how the new amount was calculated and why their earlier assessment was considered incorrect.

What Could It Mean Financially?

Property tax is a recurring household expense, so a substantial increase can create a long-term financial burden if the revised assessment continues. Homeowners may therefore need to understand how their property has been assessed and what factors contributed to the revised demand.

What Happens Next?

Many property owners are now looking for clearer explanations, corrected assessments and further guidance on their revised tax demands. The situation could also highlight the importance of maintaining accurate property records and understanding how civic property-tax assessments are calculated.

Facing strong opposition from residents over sharply increased property tax demands, the Greater Chennai Corporation (GCC) has suspended its recent revision of property tax assessments for properties identified as under-assessed. The decision follows a wave of petitions and representations from property owners who questioned the revised tax demands issued in recent days. Under the decision, the property tax for the affected assessments will be restored to the amount applicable before the revision. The reassessment drive covered nearly 3.5 lakh properties out of around 14 lakh properties in the city. In several cases, residents reportedly received revised demands that were significantly higher than their previous tax bills, with some increases reaching nearly 400%. The sudden increase triggered concerns among residents, particularly from property owners who said they had not made any major additions or alterations to their buildings. They also questioned the clarity of the reassessment process and the requirement to pay the revised amount while seeking reconsideration. Residents who have already paid the reassessed property tax will not lose the additional amount. The excess payment will be adjusted as advance payment towards property tax dues for subsequent half-year periods. According to the civic body, around 30,520 property owners had paid the reassessed tax, generating approximately Rs 11.1 crore in collections as of Thursday. The corporation's reassessment exercise was undertaken to identify properties where the existing tax assessment was considered lower than the applicable level. The drive used GIS and satellite-based mapping to identify discrepancies in property records. The exercise was expected to bring under-assessed properties into the tax system and generate additional revenue for the civic body. The corporation had estimated that correcting such assessments could generate around Rs 83 crore in additional revenue, in addition to its existing property tax demand of approximately Rs 2,450 crore. The reassessment also came under criticism over the absence of adequate communication and concerns about properties being reassessed despite residents claiming there were no significant changes to their buildings. The controversy has now prompted the civic body to suspend the revised assessments and restore the earlier tax amounts for the affected properties. The move is expected to provide temporary relief to thousands of property owners while the corporation reviews the representations and reassessment process.

 The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has granted a four-month extension to the registration validity and corresponding completion timelines of eligible registered real estate projects affected by the prevailing situation in West Asia. The move is intended to provide regulatory relief to projects facing delays because of circumstances arising from the regional disruption. The extension covers projects registered under TNRERA where the original completion date, revised completion date or previously extended completion date falls on or after February 28, 2026. The authority has treated the prevailing West Asia situation as a “war” event for the purpose of invoking the force majeure provisions under the Real Estate (Regulation and Development) Act, 2016. Force majeure provisions are intended to address exceptional circumstances beyond the reasonable control of a promoter that may affect a project's ability to meet its approved timeline. By recognising the situation under this provision, eligible projects can receive additional time for completion.

Four-Month Extension for Eligible Projects

The extension covers both the validity of project registration and the corresponding completion timeline. This means eligible developers receive additional time within the regulatory framework to complete their projects. However, the relief is not a blanket extension for all projects registered in Tamil Nadu. Projects must satisfy the eligibility conditions specified in the circular, particularly the requirement relating to their completion or extended completion dates. TNRERA has also clarified that eligible promoters do not have to submit separate individual applications to obtain the extension. They are also not required to pay any additional fee for availing the four-month extension. This is expected to make implementation easier for eligible projects and reduce additional procedural requirements for developers. The decision follows an advisory issued by the Ministry of Housing and Urban Affairs on July 31, 2026. The advisory called upon real estate regulatory authorities to issue suitable orders or directions for extending the registration and corresponding completion timelines of registered projects affected by the West Asia situation.

What It Means for Homebuyers

For homebuyers, the order could affect the expected completion and possession timelines of eligible projects.

Buyers who have purchased units in affected projects should check the project's TNRERA registration details, approved completion date and revised timeline. The four-month extension does not mean that every project in Tamil Nadu automatically receives additional time.

Homebuyers should also distinguish between a regulatory extension granted under force majeure provisions and the project's actual construction progress. The extension provides additional regulatory time, but buyers should continue to monitor construction status and possession commitments.

Key Points at a Glance

• Extension: Four months

• Authority: Tamil Nadu RERA

• Affected projects: Eligible registered real estate projects

• Eligibility: Completion, revised completion or extended completion date on or after February 28, 2026

• Reason: Disruptions arising from the West Asia situation

• Force majeure: Situation treated as a “war” event

• Separate application: Not required for eligible promoters

• Additional fee: Not required

• Central advisory: July 31, 2026

• TNRERA circular: August 10, 2026

• Legal provisions: Section 6 of RERA, 2016 and Rule 7 of Tamil Nadu RERA Rules, 2017

The four-month extension provides temporary regulatory relief to eligible real estate projects affected by circumstances linked to the West Asia disruption. By extending both registration validity and corresponding completion timelines without requiring individual applications or additional fees, the decision is expected to simplify compliance for qualifying projects while giving developers additional time to complete their obligations.