Comments
The realty sector is expecting the Tamil Nadu government to extend single-window clearance (SWC) to the construction sector, particularly for high-rise projects in the State.
Industry representatives indicated that the introduction of single-window clearance for realty projects would pave the way for reducing construction costs and thus benefiting all stakeholders.
Representations to govt
“We have made several representations to the State government, requesting for single-window clearance. As the government has raised FSI norms, vertical construction or high-rise projects will come up in the city and those buildings will require several approvals. A single-window framework will be of great help,” Mehul Joshi, Director, Doshi Housing, which is part of Chennai Chapter of Credai (Confederation of Real Estate Developers' Associations of India) said on the sidelines of a meeting.
At present, it takes a few months to get approvals for non-high rise projects (up to 4 floors). But for high-rise building projects, approvals take almost a year.
“The State government has already started giving online approvals. So we expect single-window clearance as the next logical step. We have requested the government to reduce the approval period to about 60 days for high-rises through single-window mechanism,” he said.
Echoing his views, WS Habib, President, Credai Chennai, said since the single-window framework was already working out for industrial sectors, the same could be extended to the realty sector as well. He said the property market in Chennai was showing revival signal. The commercial segment has already shown strong revival due to growing absorption, particularly by ITeS and co-working segments.
Fairpro 2019
The Chennai Chapter of Credai will hold its annual property show Fairpro 2019 on February 15-17 at the Chennai Trade Centre.
“This is a one-stop platform for all types of home buyers. Normally, we see sales of 200 houses during this event. This year, we expect sales of about 300 houses. Though affordable houses are seeing faster growth, the sweet spot still is ₹50-80 lakh segment,” said Joshi.
During the three days, 75 developers will display more than 300 residential projects with prices ranging from 20 lakh to a few crores.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.