Indian States should
look at introducing a single-window clearance system for affordable houses, Mr.
Deepak Parekh, Chairman, Housing Development Finance Corporation (HDFC) has
said.
Greatest Benefit..!
“The single greatest
benefit of having a single window clearance is that it will reduce housing
prices because the time taken for approval is about 18 months. That will come
down”, Mr. Parekh said at an international conference on housing, organised by
Asia Pacific Union for Housing Finance here on recentlty.
 |
| Deepak Parekh, Chairman HDFC |
There is need for
simpler processes & simpler approvals from local municipalities for smaller
housing units, he also said.
A committee on
streamlining approval procedures for various projects has recommended this to
the Housing Ministry, it is learnt.
“While getting a real
estate regulator requires the Parliament approval which may be difficult in the
current milieu, a single window clearance is an administrative decision that is
eminently doable”, Mr. Deepak Parekh said.
Mr. Deepak Parekh
also called for tighter regulations to cleanse the housing sector.
“Vested interests
have always existed as far as land is concerned. Rampant violation of building
norms, excessive greasing of palms, lack of coordination among civil
authorities strongly point to the fact that there is an urgent need to cleanse
our internal systems. This has to be done through tighter regulations”.
REAL
ESTATE REGULATOR..!
On arguments that
land is a state subject and directions from the Centre will not be effective,
Mr. Deepak Parekh saw this as a flawed argument.
He pointed out India
had a similar situation in power where there were both State level &
central regulators and that it worked well.
Parekh also did not
see merit in real estate developers’ view that real estate regulator bill will
be draconian and affect the industry.
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