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The Confederation of Real Estate Developers Association of India (Credai) will start a consultative process next week with the Union Minister of Urban Development, Mr Kamal Nath, the Credai President, Mr Lalit Kumar Jain, told PTI today.
“Minister Nath has agreed to hold the consultative dialogue from next week in the process of improving the working scenario between developers and the government sectors,” he said at the ongoing Credai convention being held in Singapore.
Mr Jain highlighted two issues.
“We need a one-window, one agency and one person to deal with when seeking approvals for our projects,” he stressed, adding that such approvals should be given within two to three weeks.
Under the present process, projects are delayed as developers have to deal with more than 150 officials and over 40 departments.
The delays are costing 40 per cent of the housing unit cost to the consumer, he pointed out citing a recent report by consultants McKinsey Global Institute.
Secondly, Mr Jain made it clear that developers were not the beneficiary of corruption process.
“We should not be blamed for corruption,” he said, adding that the process has built-in corrupt practices.
Mr Jain called on the Government to eradicate all corrupt practices and set up a single online and or one-window process for project approvals.
About Credai’s Singapore convention, he said 18 international experts have presented their case studies on developing world-class projects.
“We are experts too, but we need to learn from international developers who have the experience of managing and developing world-class projects,” he said.
Nobel laureate Mr Rajendra Kumar Pachauri, Chairman of the InterGovernmental Panel on Climate Change, also addressed the convention.
Mr Jain was impressed with the strong Credai member support for the Singapore convention, with 40 speakers and attended by more than 900 developers.
“We are learning best practices of the international developers,” he said, adding that the association was addressed by 18 experts from Australia, Dubai, China, Hong Kong, Singapore, South Korea and the United Kingdom.
“We need to build 700-900 million square metres of commercial and residential space which translates into two Mumbai cities or a new Chicago every year,” he said, stressing on the importance of preparing Indian developers.
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