NCR Credai demands industry status for real estate
Oct 14, 2015
Source : Toi
NOIDA: Credai members from across NCR on Tuesday observed a protest strike against the issue of 'difficulty in doing business.' All transactions and constructions were brought to a standstill while the builders gathered to submit deputations with the offices of the district magistrate and the chairman of Noida Authority.

The Credai-NCR protest was observed as a fraction of the nationwide protest by the developers' group to mark condolence on the suicide committed by a Mumbai based builder, Suraj Parmar of Cosmos Group. Parmar was also the president of Thane chapter of Maharashtra Chamber of Housing Industry (Credai-MCHI).

In an 18-page suicide note left by Parmar, he has expressed his hopelessness in the system and the roadblocks which he has been facing in taking off with his project and the financial grind that followed.

"It is high time that real estate was given an industry status. Real estate is not only one of the biggest employing sectors, but we are end users of products created by 350 other industries. Despite playing such a great role in the national economy, we are short-changed. The builders need ease of doing business. The suicide of Suraj Parmar highlights the real situation that most builders are facing today in executing their projects," Manoj Gaur, President, Credai, NCR said.

"We have been demanding a single-window status for the builders. From environment clearances to all other certifications, it takes months together to get the project to the ground after buying land. Until the builders get a single window system, the entire process of approvals and clearances will continue to slow-down their pace," Amit Modi, Vice-President, Credai Western UP said.

"In a country where the film producers are given loans by banks, the builders are not. It is strange that the banks finance home buyers, but builders have to source money from other financial sources. Until these chinks in the real industry business are ;eared out, the next generation of builders will only shy away from the business," Gaur added.


Latest Realty News

Oct 14, 2015
MUMBAI: Brihanmumbai Municipal Corporation (BMC), the civic body of the country's commercial capital, has received a second extension of the deadline for revision of the much-talked about Development Plan 2034 by another six months to February 2016.
Oct 14, 2015
NEW DELHI: Rajasthan government has signed four MoUs firming up an investment of Rs 5,400 crore to promote affordable housing in the state. These MoUs are a part of 27 MoUs signed by the state entailing an investment of Rs 12,478 crore in housing and urban development projects in Jaipur. Of these, 14 of the MoUs will bring in an investment of Rs 9,273 crore into housing projects
Oct 14, 2015
New Delhi: The Centre has notified new rules to extend by six months, till April 15 next year, the deadline for central government employees to file details of their assets and liabilities along with that of their spouses and dependent children, as mandated under the Lokpal Act.
Oct 13, 2015
New Delhi: Fitch Ratings has given a 'stable' outlook to Indiabulls Real Estate and expects the realty firm's debt to reduce by more than Rs 700 crore this fiscal year.
Oct 12, 2015
MUMBAI: Realty developers' body Confederation of Real Estate Developers' Association of India (CREDAI) will be observing a token strike on Tuesday to mark solidarity to Late Suraj Parmar, President of Thane chapter of Maharashtra Chamber of Housing Industry (CREDAI-MCHI). Last week, Parmar ended his life due to alleged harassment from various government departments and their repeated demands for bribes.
Oct 12, 2015
KOLKATA| MUMBAI: While thousands of residential units lie unsold across metros in the country , builders are quickly rustling up offers to make the most of the upcoming festive season. From freebies to home loan installment reliefs to international holidays, offers are coming in all shapes and sizes, depending on the ticket size of the apartment one chooses.
Oct 11, 2015
INDORE: Aftereffects of the deadly Petlawad blasts have led to a hike in prices of construction material putting in a negative effect on the real estate sector.
Oct 10, 2015
MUMBAI: Realty developers maximize their plots' development potential through various Floor Space Index incentive schemes in space-starved Mumbai. But only few understand that projects built on base FSI, which essentially lead to more open space and also strike a chord with consumers, are commanding 50-100 per cent premium over the existing average price points in these localities.
Oct 09, 2015
Mumbai: Banks can now provide home loans up to 90 per cent for properties that cost Rs 30 lakh or below, the Reserve Bank of India (RBI) said on Thursday.
Oct 09, 2015
MUMBAI: Slowdown in the realty industry has affected the revenue collection of Maharashtra government which is already reeling under financial constraints.

Latest Realty News Of State

Realty Talk's