CREDAI Chennai lauds compensation to Parandur landowners

The Confederation of Real Estate Developers’ Associations of India (CREDAI) has welcomed the Parandur Airport project and praised the Tamil Nadu government for offering fair and high compensation to landowners in the area. Mohamed Ali, President of CREDAI Chennai, said the government’s decision to offer higher compensation was proactive and transparent. “This is a crucial step toward building a world-class airport that can truly change the way Chennai grows,” he said. He noted that large infrastructure projects like the Parandur Airport will not only improve transport connectivity but also support balanced development across the region. CREDAI Chennai believes that the development of IT parks, logistics hubs, and related infrastructure alongside the airport will turn Parandur into a major growth corridor. This, they say, will attract investments, create jobs, and promote affordable housing along Chennai’s western belt. “We remain optimistic that with continued government support, Parandur will become a key driver of Tamil Nadu’s economic future,” Mohamed Ali added. The state government recently announced compensation of 3.5 to 7 times the guideline value for land acquired for the airport project.