Union Minister of Urban Development, Venkaiah Naidu assured that property owners and property developers can have all the housing approvals in just 60 days. As of now, this notification will be sent to Delhi and Mumbai. The government is planning to implement this model across the country for which all the states are invited for a discussion on Feb 28, 2017 in Delhi.
The entire process of approval will be online where the applicants can send their application and get the approvals in 60 days. In the case of any delays, the property owners or builders can file an affidavit and begin construction.
There had been many concerns from builders about the approval process which was finally heard by the Ministry of HUPA and Urban Development and after its collaboration with nine ministries, this issue was resolved.
“Developers need around 41 permissions from the government which takes a lot of time. At the same time, we are asking them to stick to timelines. So, I held meetings with several ministries and we agreed on some measures,” says Naidu.
The purpose of this new Real Estate Regulation Act (RERA) is to establish a central advisory mechanism to make sure that the Centre and the states have the similar practices and enhances the possibility of completing its ‘Housing for All by 2022’ dream.
However, the Centre realises that their mission can only be successful if they can achieve the adequate infrastructure development. Keeping this mind, the government has already begun to make comprehensive plans for metropolises like Bengaluru, Pune and Noida and provide funds for urban local bodies in states.
“We are taking into account the water supply, roads, etc. and creating a five-year development plan.” Naidu adds.
Source: ET Realty