Wed May 21 19:26:42 UTC 2025: ## Tamil Nadu Real Estate Developers Urge Government for Faster Approvals to Boost Economy

**Chennai, May 22, 2025** – The Confederation of Real Estate Developers’ Associations of India (CREDAI) Tamil Nadu is calling on the Tamil Nadu government to streamline the approval process for real estate projects, citing the sector’s crucial role in achieving the state’s ambitious $1 trillion economy goal.

Speaking at a press conference in Chennai, CREDAI Tamil Nadu President W.S. Habib emphasized the need for a single-window clearance system, stating that project delays result in significant financial losses for developers. He argued that simplified compliance and faster approvals would not only benefit developers and homebuyers but also boost the state government’s revenue through increased stamp duty and GST collections. According to CREDAI, approval times are currently lagging by 8-9 months.

Furthermore, CREDAI is seeking to actively participate in the planning of masterplans for all 135 major cities and towns across Tamil Nadu. The association believes clarity on these masterplans is essential for developers to make informed land acquisition decisions and ensure project approval.

Srikumar Swaminathan, Secretary of CREDAI Tamil Nadu, raised concerns about rising raw material costs in the real estate sector, reporting price increases of 30-40%. He also highlighted sourcing challenges for certain materials.

In a move to expand its reach, CREDAI Tamil Nadu announced the addition of 5-6 new chapters in key growth areas such as Sivagangai, Vellore, Karur, the Nilgiris, and Thanjavur. This expansion aims to improve regional representation and local advocacy.

Finally, the association unveiled plans to host annual international expos under the “FAIRPRO” brand in Dubai, Muscat, Abudhabi, Riyadh, Doha and Singapore. These events are designed to attract NRI investments and showcase Tamil Nadu’s real estate potential on a global stage. CREDAI representatives stated that there is significant interest from NRIs in investing in Tamil Nadu properties.

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