Pakkam, Chennai

The Greater Chennai Corporation has commenced work to upgrade 94 road junctions across the city. This initiative aims to alleviate traffic congestion and improve urban mobility for commuters. The upgrades are expected to result in smoother traffic flow and reduced travel times.

The Greater Chennai Corporation (GCC) has implemented a new system to expedite building approvals, setting a maximum processing time of 27 days for planning permissions and building permits. Fully compliant applications are expected to be approved within 18 days, while those requiring further information will adhere to the 27-day limit.

NITI Aayog has released a roadmap for urban governance reforms aimed at addressing common issues faced by urban residents and homebuyers, such as delayed building approvals, irregular water supply, and project delays. The report, 'Moving Towards Effective City Government,' focuses on strengthening city governments to improve services, enhance accountability, and streamline processes.

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has implemented new guidelines requiring promoters to maintain three separate bank accounts for each registered real estate project. This directive, effective from January 1, 2026, aims to enhance financial transparency, prevent fund diversion, and protect homebuyer interests by ensuring stricter monitoring of project funds.

CREDAI Chennai reports that South and West Chennai will continue to be the primary residential growth corridors in 2026, driven by metro rail expansion, improved road connectivity, and proximity to employment hubs. The report highlights strong sales traction in these areas and suggests that policy measures and potential interest rate cuts could further stimulate the affordable housing segment, leading to increased development and property value appreciation.