NAREDCO: Pushes for Approvals on Clearing Building Plans Through Architects..! ~ Estate, Market, Fund, Insurance, Loan

The National Real Estate Development Council (NAREDCO) has appealed to the Housing and Urban Poverty Alleviation Ministry, GOV of India to allow empanelment or / to delegate powers to practicing & registered Architects with the Council of Architecture thus reducing the time required for clearing building plan approvals.

As a part of the demand Architects having more than 15 years of experience should be allowed to clear the building Plans (Plan, Elevation, Area statements) at par with signing of the Balance Sheet by Chartered Accountants under the control of the Indian Institute of Chartered Accountants.

Currently these approvals are sorted from the 'Planning Authority' or / 'Municipal Corporations' which at times result in abnormal delay in the approval of Building Plans.

Further, the developer community is often criticized by stake holders as ‘seed for corruption’ when such approvals are being granted by officials.

NAREDCO feels that by allowing the 'Building Plan' approval through Architects, the corruption in the entire system can be drastically brought down or altogether eradicated. The Municipal Corporations can take on the mantel of monitoring these approvals that are granted by Architects, thus saving substantial time.

Mr. Navin Raheja, President,
NAREDCO

Mr. Navin Raheja, President, NAREDCO has submitted a letter to Dr. Girija Vyas, Hon’ble Minister, Housing and Urban Poverty Alleviation, with a request to consider approval of the Building Plan through Architects as one of the positive steps while considering the Regulatory Bill.

Many of the developers are opposing the Regulatory Bill, on the other hand, NAREDCO has decided to support, as NAREDCO strongly feels that if the approval of the Building Plan is allowed to be given by Architects, opposition to the Regulatory Bill will be minimized and shall create history in the real estate sector.

Mr. Sunil Mantri, Vice President,
NAREDCO

Mr. Sunil Mantri, Vice President, NAREDCO said " As the government is now looking at bringing in more and more transparency in this sector, this would be the right time to allow the Building Plan approval through Architects having 10 to 15 years and above experience. Further, the approval of the Building Plan should be uploaded on the website – a leaning towards transparency – to be accessible to the public. We strongly believe there should not be any harm in allowing approval of Building Plan at par with Chartered Accountants signing of Balance Sheets and representing to Income Tax department / or Tribunals. Besides the developers are confident that the prices can be lowered by at least 10 % if approvals are allowed to be granted by professional, experienced architects.

He further said that “Recently, the Prime Minister came down heavily on the cash component in the developer’s community which is required to be eliminated. A step towards achieving this should be ensuring complete transparency in project approvals at various levels and passing of the Regulatory Bill wherein all the real estate developers as well as real estate agents are governed under this Bill.

About NAREDCO (National Real Estate Development Council)...!

National Real Estate Development Council (NAREDCO) was established as an autonomous self-regulatory body in 1998 under the aegis of Ministry of Housing and Urban Poverty Alleviation, Government of India. The Indian housing and real estate sectors and the allied industries hailed the Establishment of NAREDCO, as the apex national body for the real estate industry and visualized it as a single platform where Government, industry and public would discuss various problems & opportunities face to face which would result in speedy resolution of issues. It was formed with the mandate to induce transparency and ethics in business and transform the unorganized Indian real estate sector into a matured and globally competitive business sector.

NAREDCO strives to be the collective force influencing & shaping the real estate industry. It seeks to be the leading advocate of developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders of real estate sector & viewed by them as crucial to their success.

NAREDCO works to create and sustain an environment conducive to the growth of real estate industry in India, partnering industry and government alike through advisory and consultative processes.

National Real Estate Development Council