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Single Window Clearance for Getting Project Approvals under RERA

Courtesy/By: Rakesh G. | 22 Jan 2018

Vice President M. Venkaiah Naidu was in Bangalore recently to inaugurate 28th convention of the Builders’ Association of India. He said, “The importance of RERA regulations was not to strangulate but to regulate the Real estate sector in India.” He noticed that the builders are facing a lot of problems in getting approvals for their project & it takes more than a considerable time.

Vice President said that “Real estate & construction sector in India is not only giving major employment opportunities but has the potential to attract investments through FDI by $10 billion investment by 2020. M. Venkaiah Naidu stressed for a single-window clearance for projects to increase the momentum in the Real estate & construction sector. Mumbai & Delhi have already adopted single window clearance to give approvals within 60 days. He said that proper action should be taken against officials who resist giving approval within 60 days without reasons & expressed concern that even after 70 years of Independence, Government’s approval speed is very slow”. Also stressed upon the adopting online system in giving approvals for the speedy process.

Central RERA authority should also look into relationship with the contractors & agents in terms of doing business which has the considerable impact on the completion of any real estate project. Hence the RERA authority should make some rules for builders, contractors & agents in this regard.

Courtesy/By: Rakesh G. | 22 Jan 2018