New Committee to Come Up With Easy Approval for Realty Projects

Realty developers often have to encounter delays in securing approval for their projects. Starting a project tends to be a tedious activity with the requirement of more than fifty approvals from the authorized organizations in the state and center. However, this year is likely to bring relief for the builders as a committee will soon be operational that would aim at fast-track approvals for realty projects.

Dhanendra Kumar, former chairman of Competition Commission of India will lead the committee. The committee would be focusing on making fast approvals possible and the status would be available online.

With the committee being operational soon, there is hope that it won’t take long for simplified procedures and paper work. A methodology would be introduced by studying the present circumstances, which if gets sanction from the Ministry of Housing and Urban Poverty Alleviation, would pave way for easier approvals.

Builders would have the benefit of hassle-free process of securing approval. With assured transparency, the property prices would be without hidden costs and will lure more buyers. In addition, the developers are saved from paying additional interest on fresh piece of land.

Sometimes, the time gap in between approvals could be long enough to delay the project for long. The buyers and builders end up putting more money into the project. Such concerns are reduced with the proposed plans.

With buyers able to check the approval status, a lot of scams would be reduced. There is peace of mind as developer’s word is not the ultimate thing here; you have the updated information from people in authority.

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