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The housing sector is experiencing a slow growth due to a host of factors such as non-availability of singe-window clearance and unnecessary delay in projects, a top official of realty firm Mahindra Lifespaces said.
The housing sector expects single window clearance, that is clearance within 90 days. But it has been taking not less than two years, including six-month wait and later one more year for clearance, Mahindra Lifespaces Managing Director Anita Arjundas told PTI.
Mahindra Lifespaces is a subsidiary of Mahindra & Mahindra Ltd.
"We have approached the Competition Commission but the matter is pending before it," she said, when asked if the matter was raised at an appropriate platform. "In the high-tech era, the authorities should go for online submission of projects," she added.
She was here to oversee the progress of their Nagpur scheme 'Bloomdale' in Mihan.
Economic slowdown and volatile political situation in the country are also reasons for the slowdown in housing sector, Arjundas said.
The environment clearance is a big challenge, she said adding that for housing projects which are not posing any threat of pollution problem, if it takes unnecessary time, the cost of the project goes up.
Speaking on the 'Bloomdale' project, contractor firm Billimoria and Co's managing director Digant Kapadia said that by September 2014, the first phase of 2 BHK, 3 BHK and row houses will be ready for handing over to customers.
The cost of the flats ranges from Rs 25 lakh to Rs 75 lakhs, Arjundas said.
