No single window clearance slowing housing sector growth: Mahindra Lifespaces
A top official of realty firm Mahindra Lifespaces said, the housing sector is experiencing a slow growth due to a host of factors such as non-availability of single-window clearance and unnecessary delay in projects in Nagpur.
Managing Director of Mahindra Lifespaces Anita Arjundas told PTI: That the housing sector expects single window clearance, which 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 is a subsidiary of Mahindra & Mahindra Ltd.
She added “We have approached the Competition Commission but the matter is pending before it,” 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 further added. She was here to oversee the progress of their Nagpur scheme ‘Bloomdale‘ in Mihan.
She said, Economic slowdown and volatile political situation in the country are also reasons for the slowdown in housing sector, she added ,The environment clearance is a big challenge for housing projects which are not posing any threat of pollution problem, if it takes unnecessary time, the cost of the project goes up.
Contractor firm Billimoria and Co’s managing director Digant Kapadia, on the ‘Bloomdale‘ project 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 further added.
Source: The Economic Times.
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