VISAKHAPATNAM: The central government is planning to introduce the system of online building clearances for the benefit of developers, said union minister for urban development M Venkaiah Naidu.
Participating in the silver jubilee celebrations of the Confederation of Real Estate Developers' Association of India (CREDAI), Vizag chapter, he said that the Centre is also trying to bring a Real Estate Regulation Bill for the benefit of both the real estate developers as well as the consumers. Referring to the Bill, he said the government will consult all stakeholders including the states and builders associations such as CREDAI before passing it as a legislation.
Referring to issues related to service tax, he said without increasing production the government is not in a position to reduce service tax. However, he said that growth in the construction sector will improve drastically in the coming years as the central government wants to provide urban housing for all citizens by the end of this decade.
CREDAI AP chairman K Subba Raju said sand has become a major problem for the builders due to transport issues. He said delays in transport has delayed projects in the sector. He urged the central government to have a relook at the service tax on the construction sector.