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