Real estate regulations should be reformed: CREDAI
The Confederation of Real Estate Developer’s Associations of India (CREDAI) has called for unleashing of immediate reforms governing the realty sector to put an end to the license raj and stop the illegal transactions in realty deals.
According to a CREDAI personal, the system itself is responsible to convert the real estate business as full of crooks, cheats and breeders of black money.
According to an analysis, any builders need to obtain 40 different clearance before starting any real estate project in India. And as real estate is a highly capital intensive industry and any delays would only add to the interest burden for the developer who scrupulously tries to avoid it since the increased costs would lead to a cut in margins and rise in the cost for the customer.
The builders in India are facing real problems with land transactions, corruption related approvals and license process, power in the hands of officials who can threaten to stop work, the political system and above all the taxation system.
CREDAI suggested single window system for project clearances to cut down time and chance for corruption. It suggested reforms in four key areas that impact the real estate administrative, land, tax and banking.
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Source: The Hindu
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hi, Anish; What is the market value of 2rooms flat at Bangaluroo? Being a softwire engineer i can spent 50 lacs for the same. Please reply. Yours Sabita.
Hi Anish, currrently what’s the market position at Bangalore for 2room flat
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