Faster realty project approvals

Faster realty project approvals

Realtors` apex body CREDAI has been demanding a single- window clearance for approvals of realty projects, saying that the cost goes up by 40 per cent due to delay in approvals, which generally takes 12-24 months. Finally, the Centre has decided to soon appoint real estate experts and consultants in 15 major states for helping them to prepare affordable housing policy and streamline the rules for approving realty projects.

´We are coming out with a policy where we will be engaging large number of real estate experts and consultants to each individual state and asked them to study various rules and regulations related to building plan approvals,´ Housing and Urban Poverty Alleviation Secretary Arun Kumar Misra said at Assocham conference on the real estate.

Ram Raheja, the Director of S Raheja Realty welcomed this initiative by the government and said that this move by government will benefit the business of real estate development in the country and will assist the developers in enhancing their project delivery.

Higher disposable income and increased aspirational values have resulted in the growth of affordable housing as every individual seeks better standard of living. Hence, it is of utmost importance for every builder to create projects of high quality and provide timely delivery. With the support of experts who will assist in faster approvals and streamline policies, the complete gamut of development will receive a boost which in turn will reduce construction costs up to 40 per cent and increase sales.

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