How the System Works?
The real estate projects in India have to pass various levels of clearances from different platforms in order to complete the construction work and deliver them. According to builders, they are expected to get clearance approvals from almost 40 agencies which will take at least 18 months.
At present, there are 3 clearance levels:
- First phase is receiving approval from the urban local bodies regarding the project plan
- Second phase involves sewerage and water connection along with fire clearance
- Third phase requires civil aviation and environmental clearance from the central government level.
Need for Single Window Approval System
This plan has been proposed by the UP-NCR authorities to save considerable amount of time spent in approval delays. According to realty experts, the multiplicity of authorities in obtaining clearances related to real estate projects is one of the major factors for delayed project delivery. The single window approval system will help the builders to get all the required approvals collectively under one centre. According to sources, the government is planning to form a common centre for Noida, greater Noida, Yamuna Expressway and Ghaziabad with a committee to understand the entire approval procedure. Based on the committee reports, the government will set up a nodal agency to coordinate with property developers.
Once the single window clearance system gets an approval, builders can get clearances in a time bound manner. This will bring down the average approval time to 45 – 60 days, thus the home buyers can get their homes on time. This will save the home buyers ‘money, time and energy and also provides transparency in the real estate market.
No comments:
Post a Comment