Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
06 October, 2015 02:35 IST
CREDAI hails AP plan for online approvals
Source: IRIS | 16 Nov, 2012, 03.52PM
Comments  |  Post Comment

Developers' apex body CREDAI has welcomed the realty reforms initiatives like online approval of building plans and single window system launched by the Andhra Pradesh government.

''These measures will go a long way in reducing the cost of housing in the State since building clearances can be expected to come quickly. Delays, as we have been pointing out, lead to cost escalation,'' said Lalit Kumar Jain, National President of CREDAI.

Jain welcomed in particular the move by Andhra Pradesh Government to go in for online approvals and said ''CREDAI has suggested this long time ago to Centre and other States as it will cut down drastically the human interface for passing the files.'' ''Corruption is the biggest bane of realty and developers are blamed for it though we are victims of the corrupt system and not breeders of black money,'' he said.

Currently, across the country, developers are subjected to a plethora of approvals involving human interface with over 40 officers at various stages and this gives rise to money changing hands. ''But henceforth, we have decided not to pay bribes to any corrupt official,'' he said.

The State government has set up a committee to work out the online approval format.

''CREDAI also welcomes the single window system for submission of building plans,'' Jain said and expressed the hope that other states will emulate it.

CREDAI had submitted a workable plan to the Centre to initiate realty reforms like online approvals and single window.

''We wonder as to why the centre is not acting on ensuring speedy clearances while at the same time pushing for the one-sided Real Estate Regulator bill,''  Jain lamented.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Related Articles
Sun Pharma settles Absorica patent litigation - 05-Oct-2015 18:53
Gujrat NRE Coke to sell wind biz for Rs 2.19 bn - 05-Oct-2015 18:14
Alok Ind receives additional funding of USD 50 mn under EPBG - 05-Oct-2015 17:40
Alstom bags Rs 11 bn order for Lucknow metro project - 05-Oct-2015 17:18
Canara Bank cuts base rate by 25 bps to 9.65% - 05-Oct-2015 17:11
TechM to develop aircraft ground support system for Bombardier - 05-Oct-2015 16:27
Indusind Bank inaugurates new branch at Jamshedpur - 05-Oct-2015 16:11
Cox & Kings owned Meininger to open new hotel in Budapest - 05-Oct-2015 15:52
Jet Airways cuts fares rate by upto 30% on international flights - 05-Oct-2015 15:42
Corporation Bank reduces base rate to 9.70% - 05-Oct-2015 13:40
NMDC's iron ore sales drop 17% in September - 05-Oct-2015 13:25
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer