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.
 

 

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