Property prices in
India shoot up by 40% due to delays in starting of projects, which require
about 35 procedures to get clearance, taking an average of above 6 months time
and the issue needs to be addressed, according to the Economic Survey.
“India’s housing and
real estate sector faces many challenges. There are 34 procedures and the
average time taken is 196 days, which increases the sale value by 40%,” the
Economic Survey for 2012—13, tabled in Parliament, said.
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