Credai bats for online project approvals, to focus on affordable housing

Credai has suggested changes in the Land Acquisition and the Real Estate Regulator Authority bills to make them much more effective for the home buyer

Realty players, in a bid to tide over the effects of the current economic slowdown, have asked the government to expedite the project approval process by removing bottlenecks, and are planning to give greater focus to affordable housing projects.

Lalit Kumar Jain, the newly elected chairman of the Confederation of Real Estate Developers Association of India (Credai), the apex body for private real estate developers in the country, has called upon the Centre to issue guidelines to states regarding online approvals and a single window system.

Credai has embarked on a multi-pronged agenda to work closely with various governments with focus on affordable housing, green buildings and water harvesting, and skill development among construction workers. “The task force report on affordable housing is already with the government and we will impress upon the concerned departments to facilitate its implementation for ensuring that the millions of homeless fulfill their dreams of owning a house,” said Jain.

Credai has long been campaigning for streamlining the approval processes across the country. “In fact, the Centre should issue guidelines to states regarding online approvals and single window system,” he said. States like Punjab, which have implemented the single window system, are doing very well. These changes will check corruption to a large extent and the money saved would definitely benefit the end buyer, Jain added.

Further, Credai has suggested changes in the Land Acquisition and the Real Estate Regulator Authority Bills to make them more effective and beneficial for the home buyer and not to one particular section. Regarding delays in approvals from the environment ministry, Jain said: “A lot needs to be done for speedy approvals so that projects do not get help up indefinitely."

C Shekar Reddy, the new national president of Credai, said the apex body would also campaign with the finance ministry and the Reserve Bank of India for reducing the risk weightage given for funding the real estate projects. The current negative approach is helping neither the banks nor developers, he said. CREDAI will focus on educating the fellow developer community on developing green buildings, using non-conventional energy sources and water conservation. Recycling of water for flushing and gardening purposes should automatically be part of all new projects, Reddy said.