The time taken for getting approval for buildings in Tamil Nadu is alarmingly high. While the State takes close to 12 months for granting a building approval, many other States in the country take only two to three months, including environment clearance, said Getamber Anand, national president, Confederation of Real Estate Developers’ Association of India (CREDAI).
Interacting with media here on Thursday along the sidelines of ‘Statecon 2015’, organised by CREDAI, he said the clearance process has to be simplified. Stating that builders are partners in nation building, he said the Centre and State governments should support the private sector to make housing for all a reality.
“People want land value to escalate but value of houses to drop. Property prices would not drop unless the escalating land value comes down,” he said anticipating interest rate cut for housing loan to boost the ailing sector.
The Tamil Nadu government should fix realistic guideline value for land. As many as 350 different materials were required for building a house and the associated industries would also flourish and provide more jobs only when there is growth in real estate. Pointing out the long-pending demand for single window clearance for building approvals, CREDAI State secretary S. Sridharan hoped that the government was working on it.
CREDAI Chennai president Ajit Kumar Chordia said that difference in the market prices and guideline value was affecting buyers and sellers alike as they are forced to pay tax for the difference too. The government should give a boost to the industry by reducing the price to the pre-December 2014. It was increased once in December 2014 and again in places like Chennai last month.
CREDAI Coimbatore president Rajesh Lund and Trichy president B. Senthil Kumar spoke.
