Andhra Government has recently launched online approval system for real estate buildings. The Apex body of the developers- CREDAI penned it down as highly appreciable real- estate-reformation.
Single window system for approving real estate projects will speed up the delivery. Confederation of Real Estate Developers’ Association of India had earlier blamed the red-tapism and corrupted officials as reasons of delayed deliveries.
CREDAI had been demanding for real estate reforms as the builders faced difficulty in delivering the projects in time. The main reason for this undesirable delay was the approval – troubles. Each real estate builder has to approach nearly 40 officials in various stages of the project. This causes higher delay and expenses.
CREDAI said that the launch of online approvals will reduce prices. Being a victim of corruption, the builders have to charge the amount from the buyers. With the launch of online approval systems, the builders can avoid corruption and this will foster them to provide properties at lower rates.
Pointing to the appreciable attempt of Andhra Pradesh government, Mr. Jain said that this will bring drastic changes in the price level in the state. As it can cut short the delay, it affects the cost of real estate property. This will further pave way for faster approvals. The real estate will become capable of sorting out the surging housing demand.
CREDAI pulled off the central government which turned down the plea for real estate reforms. Earlier the apex body of the developers had requested the center and other state governments to implement single window system and online approvals. However their pleas have not come to light so far.
Pointing to the AP Govt. Mr. Jain said that this is the need of the hour. Only with such progressive reforms alone the real estate will be able to meet the demand of the people.
Mr. Jain expressed his negative emotion on the Center Government which still upholds Real Estate Regulator bill. Such bills never give a chance to the builders than to bribe the corrupt officials for getting things done.
