Housing ministry plans to introduce real estate regulator in the Cabinet. The regulator is expected to curb the illegalities in the realty sector.
Maken to seek cabinet – approval of real estate regulator bill.
Realty sector may get a cleansing if the union government sets real estate regulator to control the sector. The regulator is believed to be stiff towards unscrupulous builders.
Under the real estate regulatory bill the builders will be put into jail in circumstances of proved misbehavior. They will not be allowed to put any advertisement about their projects before they get the approval from the regulator.
Despite the opposition of the realty developers, the housing ministry is all set to implement real estate regulator bill to safeguard home buyers from unscrupulous builders. The bill is expected to be passed in the current parliament session. Continue reading
In view of bringing the property prices down, housing ministry has recommended single window clearance. The housing ministry hopes to lower the sky reaching property prices.
Housing ministry recommends single window clearance to speed up clearance.
New Delhi: As per Economic Survey 2013, delay in project-clearances is one of the main reasons which cause the hike of property prices. The survey had suggested the government to look into the matter and take out suitable steps. This might have prompted housing ministry to move in that way.
If single window clearance system is introduced, the builders will be able to launch their projects soon. Moreover they will be able to provide homes at lower prices as they need not spend lot of money as ‘preservation charges.’
The builders had claimed that they had to spend a lot of money for preserving their land and properties during the period taken for approval.
To consider the issue a committee was formed under Dhanendra Kumar, former chairman of Competition Commission of India. The committee has recommended single window clearance for the real estate projects. Continue reading
A panel, set up to look in to the matter of project delay, finally suggested single-window clearance to speed up realty projects.
Single-window clearance set to pace up real estate projects.
The builders would be happy as the panel has submitted its report to the government suggesting it to implement single-window clearance. They expect the government to implement single-window clearance for realty projects as soon as possible. However the report submitted by the panel does not include any suggestion from the environment ministry.
Builders are to get clearance from Airports Authority of India (AAI) as well as from the ministry of environment. This is considered as one of the lengthiest process in the construction of a big project. Moreover this delay is said to be a reason which leads to the rise of property prices.
To look into the matter of project delay, a panel was set up last year. Dhanendra Kumar, Chairman of Competition Commission of India (CCI) headed the panel.
Though the panel held a number of meetings, both environment and forests ministry did not participate in any of the meetings. Continue reading
Union housing minister Ajay Maken said that the FSI policy in Mumbai must be reviewed. He said that only by revising the FSI policy is necessary for developing affordable houses.
FSI policy in Mumbai likely to be reviewed.
Union housing minister Mr. Ajay Maken said that the FSI policy in Mumbai as well as in all the mega cities of India must be reviewed. He added that the builders will be able to develop more affordable houses, if the Floor Space Index is raised.
There is a possibility for all the major cities of India to have taller skyscrapers in future. If the FSI policy is revised and the FSI rate is raised, then the mega cities like Mumbai and Bangalore will have taller residential development. In fact vertical development is comparatively less costly and so the buyers may be able to get homes at affordable rates. Continue reading