Union Minister of Urban Development and Housing Venkaiah Naidu has promised to set in place a system for ‘ease of doing business’ and new regulations for considering construction projects as ‘deemed to be approved’ after 60 days of filing applications.
Responding to concerns raised by the Chairman of CREDAI National on the Real Estate (Regulations and Development) Act (RERA), 2016, at the inaugural ceremony of the fifth State annual convention of CREDAI, Mr. Naidu said that several inter-ministerial meetings had taken place and a new system would be in place soon.
“Real estate projects require as many as 40 approvals and there is no specific time limit. Urban local bodies will now be empowered to give approvals on behalf of a host of agenciesin 30 days. To enable it, application and sanctioning procedures by multiple agencies are being integrated through a single window system,” he said.
