KOCHI: Credai, the apex body of real estate developers in the country, has urged the Government to introduce single-window approvals for projects at the earliest.
The proposals for getting clearance for several projects are lying with the Ministry of Environment and Forests. Providing single-window clearance for these projects would help solve lot of issues being faced by developers, C. Sekhar Reddy, National President, Credai said.
The delay in getting clearance causes additional expenditure for builders. At present it would take at least three months to clear the projects and the Government should take steps to reduce the timeframe to three weeks, he said.
Reddy, who was here in connection with the installation ceremony of Credai Kochi’s new office-bearers, said that the association has also suggested the Government come with suitable guidelines for the affordable housing policy.
If the Government comes out with various incentives to boost the affordable housing sector, there would definitely be competition among builders to take up such projects, he said.
He hoped that affordable housing policy would help end users particularly the lower segment of the society in a big way, resulting in increasing builders’ contribution to the GDP.
Referring to Real Estate Regulatory Authority Bill, he said that the proposed bill was not industry- friendly and the Government should involve all stakeholders such as Government agencies before finalising the bill.
Reddy also underlined the need for rationalisation of taxes and a single authority to collect taxes, as today 30-40 per cent of the project cost goes to different forms of taxes in different agencies.