Real estate industry seeks ‘single window clearance system’ from new Government
Hopeful of a revival of fortunes of the under-performing real estate sector once the new Government comes to power, the realtors are seeking the implementation of ‘single window clearance system’ from Prime Minister-designate Narendra Modi.
In a proposal sent to Modi, a real estate group of Noida has urged greater transparency in the realty-project approval process, via the execution of the ‘single window clearance system’ for new projects.
About the proposal sent to Modi, CREDAI member Anil Mithas said that one of the issues highlighted in the proposal is that multiplicity of authorities – and an evident lack of correspondence between them – leads to increase in production costs, along with causing needless delays in the completion of realty projects.
Drawing attention to the fact that “it takes a minimum of one year to get all necessary clearances for a developer in UP,” Mithas – who is the Managing Director of Unnati Fortune group – said: “We have great expectations from Modi that he will address our issues.”
Meanwhile, according to the information shared by unidentified sources, BJP president Rajnath Singh and leader Anurag Thakur had met real estate groups; and gave them the assurance that the project approval system will be revamped by the new Government, so as to cater effectively to the real estate industry as well as the homebuyers.
Source: The Times of India
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