Realtors demand industry status, single window clearance
With about 5 lakh real estate projects stuck and delayed across the country, the real estate players have demanded granting of industry status to the sector and a single window clearance system to ease the long process of projects approvals. However, while many of the initiatives taken by the government have improved consumer confidence, developers feel that If the government does not take quicker policy measures, the recent NBFC crisis may further dent chances of real estate recovery, said MD, Arihant Group, Kaushal Jain. Delays in getting clearances lead to increased costs, which ultimately have to be passed on to the buyer. The government should do away with unnecessary documentation said Founder and Director, House of Hiranandani, Surendra Hiranandani, as permissions are coming at a snail‘s pace. The on-going liquidity crisis is also causing project delays. The Industry expects the government to undertake the reforms which have been under the spotlight in the last term, including a single clearance window and resolution to the liquidity crunch, said Director, Sales and Marketing, GBP Group, Anupam Gupta.
📅Published on:
31 May 2019
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