3rd city master plan: CMDA to study land value trend, density
CHENNAI: Spatial distribution and temporal trend of the land value and the density across the Chennai Metropolitan Area (CMA) will be studied as the Chennai Metropolitan Development Authority (CMDA) has decided to commence preparation of the third master plan for the city.
As per a CMDA document, the study will help the planning authority in understanding spatial dynamics of land-use types, land and property values, growth hotspots, and growth trends.
“The findings of the study will be used to feed into the preparations of the new master plan. Private consultants have been invited to conduct the study, “an official said.
Even as the key objectives of the new master plan are compatibility of land use, improved accessibility and enhanced quality of life, the plan will also contribute to enhancing the resilience of the CMA by incorporating policies to enable the city in coping with urban risks and climate change mitigation and adaptation.
The new master plan can provide the city with the opportunity to reshape itself around infrastructure, allowing for more sustainable urban growth, better distribution and density and the creation of vibrant economic cores.
As per CMDA’s second master plan, CMA’s population is expected to increase to 14.8 million by 2035. In 2007, the planning authority conducted a similar study under the title ‘Chennai Urban Land Market Assessment’ prior to the preparation of the second master plan. “The study has compared the effects of distance from city centre, infrastructure and development regulations on land values and has drawn conclusions to feed the Second Master Plan. The present study will also be incorporated in the new master plan,” the official added.
Apart from the land value and density, the study will also look into FSI consumption in the metropolitan area including the correlation between FSI and land value and density. Studies on FSI restrictions that can be considered for compensation through TDRs for protection of coastal regulation zones, aquifer recharge and water bodies will also be included.