Plan to renovate old apartments; Will the Housing Board initiative succeed?

Chennai: A new scheme to help homeowners in renovating old flats will be a challenge for the Housing Board, officials said.
Apartments have been constructed in various parts of Tamil Nadu on behalf of the Housing Board. Of these, flats that are past 30, 40 years old are now ready for reconstruction. In the face of stiff competition, the Housing Board has decided to renovate such old flats with additional facilities. Board officials are in the process of finalizing sites for this in various parts of Chennai and Tamil Nadu.

Despite the government’s approval, various challenges await the board’s officials. However, in the current context, there is fierce competition in the market for land in areas where boarding houses are located.

Thus, where 100 houses were built, there is now an opportunity to build up to 300 houses. In this, the question arises as to whether the choice of homeowners is a private construction company or a housing board. In such competition, there is an additional opportunity for private construction companies.

At the same time, as a government agency, it has the credibility of the Housing Board. Board officials should take appropriate decisions in this regard, they said.