Realtors want ease of doing biz, single window clearance for projects

Realtors' apex body Credai today expressed concern over huge delays in getting construction approvals for projects and demanded that the government should implement single-window clearance mechanism.

Credai has written a letter to Housing and Urban Affairs Minister Hardeep Puri seeking certain reforms in the Indian real estate sector including the implementation of the single window clearance mechanism.

The association has also cited India's poor ranking at 181 place in the 'Dealing with Construction Permit' category in The World Bank's Ease of Doing Business' report.

Confederation of Real Estate Developers' Associations of India (Credai) National President Jaxay Shah said: "Currently, there are a number of pressing issues pertaining to the Indian real estate sector that need to be addressed on an immediate basis. For a start, attaining construction permits and approvals is an extremely tedious task for real estate developers in the country."

The government authorities need to understand the severity of the situation, in the light of India's poor ranking, he added.

 

"Hence, we humbly request the Ministry of Housing and Urban Affairs to implement the Single Window Clearance Mechanism which will not only largely resolve some of the operational issues prevalent in the industry but could also reduce property prices by around 25-40 per cent," Shah said.

Credai also urged the government authorities to address other pressing issues which include reducing the high GST rate of 12 per cent on all category of homes and not only those under affordable housing scheme CLSS. It also sought providing appropriate means for land financing to build houses under the affordable housing segment.

"A credible reform such as adoption of the environmental norms in the local building bye laws of respective states/development authorities has also been stuck in legal imbroglio after the NGT passed certain observations on the amendment made by the concerned ministry," the association said.

With the real estate industry being one of the most important and largest contributors to the Indian economy, Credai said it is absolutely imperative for these concerns to be addressed at the earliest.