Once the single window clearance for real estate projects comes into existence the realty sector will get a major boost, said Confederation of Real Estate Developers Associations of India (CREDAI) national president C Shekar Reddy. He was speaking to media persons here on Monday. He hoped that the new system will be in place in a few months. He added that a report regarding the affordable housing policy has already been submitted to the government seeking tax incentives for the segment.
“The housing shortage in the country stands at 40 million, 90 per cent of which is in the affordable housing segment. There is 30-40 per cent taxation in this sector which makes it truly ‘unaffordable’. The government should come forward to give at least land to develop affordable housing for the economically weaker sections and low income group category,” he added.
Commenting on the draft Real Estate Regulatory Authority Bill, Reddy said that CREDAI is not in favour of the bill as it is against the interest of the customers.
“The draft bill puts all the burden on the builders. We demand that the government agencies have to be brought under the purview of this bill as the delay from their part is the major reason for not completing the projects on time,” he said.
CREDAI is striving hard to achieve sustainable development. The association also wants to promote green building concept too, he pointed out. CREDAI India has chapters in 20 states of the country with more than 9,000 developers as its members.
