Govt mulls Single Window System for clearance of Real Estate Projects

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    Single Window System clearance of Real Est projects likely
    Ajay Maken, Union Minister for Housing and Urban Poverty Alleviation has said that the
    Ministery had set up a Committee under the Chairmanship of Shri Dhanendra Kumar for ‘'Streamlining Approval Procedures for Real Estate Projects'' (SAPREP). The Committee had since submitted its Report and the Ministry was in the process of formulating a single window system for clearance of Real Estate Projects throughout the country, which was expected to bring down average approval time from 196 days to 45-60 days. Apart from other things, the process involved developing of Single Composite Application Form (CAF) which entailed seeking and getting permissions from the Municipal/State Governments/Central Government agencies simultaneously. The Ministry will incorporate the recommendation of the SAPREP Committee as one of the mandatory reforms to be carried out by the States, if they were to avail the funds under Rajiv Awas Yojana.
     

    On the new initiatives of the Ministry, Shri Maken said that the Ministry had decided to frame and formulate a Slum Upgradation Index for monitoring periodically the upgradation of slums in the country.

    This index will reflect the trend in the growth of slums and their characteristics for a period of time. In this direction, the Ministry has decided to set up a High Power Committee to suggest methodology for developing the slum Index in India and report will be submitted within 3 months. He further stated that Rajiv Awaas Yojana benefits will also be extended to unidentified as well as non notified slums.

    Speaking about the Urban Housing Fund, recently declared by the Finance Minister in his Budget Speech. Shri Maken informed that a separate fund of Rs 2000 crores, to be administered by the National Housing Bank had been envisaged to support financing and credit to affordable housing sector. With an aim of benefitting the Economically Weaker and Lower Income Group segments which were not benefitting under the current priority sector lending limit of Rs 25 lakhs, the Ministry had decided to limit the loan amount to Rs 8 lakhs and the cost of dwelling units to Rs 12/15 lakhs.

    GoodReturns.in

    Read more about: real estate
    Story first published: Monday, March 25, 2013, 10:00 [IST]
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