Developers body appeals for PM’s help
The Confederation of Real Estate Developers Associations of India (CREDAI) has put forward a plan to the Prime Minister to enable reforms in the real estate sector and help rejuvenate it.
Home sales registrations continued to decline in the first half of 2012, although by only 3.4 per cent when compared to the same time last year.
To avoid such decline, the real estate developers’ body has put forward ten major points and wrote an open letter to the PM, to get hold of the lack of progress in the housing sector and work towards reviving it.
Developers are forced to deal with close to 140 officials at various stages to obtain 40 plus clearances. Therefore the first and foremost point of the plan is setting up of a single window clearance system.
The association also demanded that the government increase Floor Space Index (FSI) in metros by as much as 4, or even more, given the landlocked nature of the island city, Mumbai.
Also, the current guidelines by the Reserve Bank of India (RBI) are anti-housing industry, as the cost of finance is very high that in turn makes housing costlier.
To read more real estate news:
Moshi in Pimpri-Chinchwad lures realtors
PCMC to table report on housing project for poor
Source: Asian Age
CREDAI, finance, Floor space index (FSI), Home sales, Housing sector, Metros, Prime Minister, Real Estate Sector, reforms, registrations, Reserve Bank of India (RBI), Single window clearance system
