Latest Answer: Hi all,
It is certainly a well-known fact that real estate is one of the major contributors to the country's GDP, and this sector cannot perform well in a scenario where a misleading crowd of agencies are involved in processing approvals for real estate projects.
Latest Answer: As od now, in Mumbai itself, all real estate projects are required to get 60 no objection certificates before they are issued a commencement certificate for the project. CREDAI is looking at both reducing the number of NOCs and allowing its submission any time before completion of the project. He added that the present time frame of 6-24 months that is required to issue clearances to real estate projects is also proposed to be brought down to 1 month.
Latest Answer: Okey.......but still Mumbai Metropolitan Region needs between 1.20-1.25 lacs more residential units in the coming year. This shortage can be partly met if the estimated 19000 dilapidated buildings in Southern and Central Mumbai and 5000 buildings in the suburbs are rebuilt with additional flats.