MADURAI: The recent decision of the Tamil Nadu government to make solar power generation facility mandatory for buildings with more than four floors has not gone down well with many developers in the city, who are worried about the cost involved.
Setting up a single solar plant can cost up to Rs75,000 or Rs80,000. V G R Lakshan, general manager, sales and markeing, Meenakshi Towers LLP, said, "Real estate is in a pretty bad state right now. It is difficult for builders to shell out so much money."
Developers want a 100% subsidy from the government to set up solar power plants.
Besides the cost, the process of setting up the plants is itself cumbersome, they said, including the construction and getting permits. "We need to get banks loans as well, which is an added burden," Lakshan added. Developers also said that solar panels would occupy the entire common terrace, due to which residents would disagree to the move.
A Madurai-based proprietor, Zaid Omar of Pryme promoters said, "The installation of a solar panel on the terrace would need a room for the batteries. Also, the investment is huge. Hence, some clause must be formed to recover the investments from the residents."
A few developers welcomed the new rule. They said it would help cut down on the maintenance cost. Once solar panels are installed, there is no need to spend on batteries, due to which the house owners need to pay less. For 32 flats, the house owners will be able to save Rs1.4 lakh a year. Marketing manager, Shadab Hussain said, "The new rule set by the Tamil Nadu government would be effective after it is implemented since we can save a lot of money per month. But the only concern for us is the huge investment."