The Hindu Business Line : Hike floor space index, hoteliers urge TN Govt

The South India Hotels and Restaurants Association (SIHRA) has submitted a memorandum to the Tamil Nadu Government to consider increasing the floor space index (FSI) for hotels and to make it on par with the FSI for Information Technology (IT) buildings in the State.

According to an association press release, the high cost of land, lack of centrally located land area in central business districts along with a low FSI has been detrimental in attracting fresh investments in the hospitality sector.

The demand for rooms is growing and estimates indicate that there would be a requirement of 4,000 rooms in Tamil Nadu alone in the next few years, the release said. This demand is fuelled by the expansion and new investment in the auto, IT and ITES sectors.

Of the 112 new projects coming up in the southern States, 29 are in Tamil Nadu, 12 in Andhra Pradesh, 15 in Karnataka and 54 in Kerala.

The association has also appealed to the Tamil Nadu Government to further reduce luxury tax from 12 per cent to 10 per cent and to grant flexible timings to operate the bars in approved hotels.

More Stories on : Hotels | Real Estate & Construction | Tamil Nadu

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