Affordable Homes : Single Window Clearance Needed..!

Indian States should look at introducing a single-window clearance system for affordable houses, Mr. Deepak Parekh, Chairman, Housing Development Finance Corporation (HDFC) has said.

Greatest Benefit..!

“The single greatest benefit of having a single window clearance is that it will reduce housing prices because the time taken for approval is about 18 months. That will come down”, Mr. Parekh said at an international conference on housing, organised by Asia Pacific Union for Housing Finance here on recentlty.

 

Deepak Parekh, Chairman HDFC

There is need for simpler processes & simpler approvals from local municipalities for smaller housing units, he also said.

A committee on streamlining approval procedures for various projects has recommended this to the Housing Ministry, it is learnt. 

“While getting a real estate regulator requires the Parliament approval which may be difficult in the current milieu, a single window clearance is an administrative decision that is eminently doable”, Mr. Deepak Parekh said.

Mr. Deepak Parekh also called for tighter regulations to cleanse the housing sector.

“Vested interests have always existed as far as land is concerned. Rampant violation of building norms, excessive greasing of palms, lack of coordination among civil authorities strongly point to the fact that there is an urgent need to cleanse our internal systems. This has to be done through tighter regulations”.

REAL ESTATE REGULATOR..!

On arguments that land is a state subject and directions from the Centre will not be effective, Mr. Deepak Parekh saw this as a flawed argument.

He pointed out India had a similar situation in power where there were both State level & central regulators and that it worked well.

Parekh also did not see merit in real estate developers’ view that real estate regulator bill will be draconian and affect the industry.

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