57 Different Approvals To Shape Up A Realty Project

"In some states conversion of land also has to be done and NoC (No Objection Certificate) has to be taken as agricultural land needs to be converted for commercial use," said Dr Ranjeet Mehta, Secretary, Housing Committee, PHD Chamber of Commerce and Industry offers.

Many developers are seeking single window clearance system which is expected to reduce the process of project approvals for six to eight weeks and will also help them to develop project faster. According to Arora, “Ideally, we would prefer a single window clearance mechanism. This would help the real estate sector in many ways than one. We say this as a win-all method as the resultant costs will help us and the buyers as well," reports Economic Times.

However, the government has organized a committee recently, which is to simplify the project approval procedures in India. The government’s move is to help fast-track real estate projects and reduce the overall costs both for developers and home buyers.

Arun Kumar Misra, secretary, Ministry of Housing and Urban poverty alleviation stated that "The committee will study best practices from across the country and suggest a standardized procedure that can be adopted," reports Economic Times.