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Sunday 25 June 2017
News updated at 5:31 PM IST

Centre pushes for real estate bill

NEW DELHI, DHNS: 1:24 IST
With the UPA government pushing hard to introduce the proposed real estate regulatory bill in the monsoon session of Parliament, Union Ministry of Housing is working on issuing guidelines to states on urgent need for streamlining approval procedures for real estate projects.

The guidelines will contain suggestions made by a panel headed by Dhanendra Kumar, former chairman, Competition Commission of India, constituted by the Ministry of Housing for streamlining approval procedures for developmental projects.

The suggestions include simplifying the procedure of approval of different agencies, by both Central and state governments and removing unwanted bottlenecks.

As the proposed real estate regulatory bill specifically emphasises on streamlining the approval system, the ministry will direct the states to start working on this issue, Girija Vyas, Union Housing and Urban Poverty Alleviation Minister told Deccan Herald.

The committee, which submitted its report to the Housing Ministry recently, also recommended using an information technology-enabled single-window approval system, providing fast-track clearances, especially for affordable housing projects.

At present, each real estate project requires a minimum of 30 to 50 permissions from different agencies including water, land, electricity and town planning, which were considered as one of the major reasons for delaying the projects.

The committee in its findings said the average time taken for obtaining all approvals for a residential project in Delhi is 141 days while it takes 599 days in Trivandrum.

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