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.
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.
The committee has suggested a nodal agency to act as a single-window. Additionally the agency will have to coordinate all approvals from various departments.
To increase the supply of affordable housing units, the committee suggested a 60-day clearance window for affordable housing projects.
Housing ministry head Ajay Maken said that it will improve the supply of affordable housing units.
Mr. Maken expressed that the ministry of environment and forest also will act accordingly. To speed up the project, these ministries too will have to relax the clearance norms.
Environment clearances and clearances from the Airports Authority of India are the two most-time consuming clearances. These clearances are highly time-consuming. They cause unimpressive delay of projects.
The property prices shoot up highly within the period taken for getting all clearances. This is more visible in the top cities like Mumbai, Bangalore, and the like where the property prices are rocketing day by day.