CREDAI’s cost concerns

CREDAI Chairman Lalit Kumar Jain has expressed hope that the new Housing and Urban Poverty Alleviation Minister Girija Vyas will continue with the "unfinished task of her predecessor Ajay Maken."

"Mr. Maken appreciated the issues faced by the housing sector and agreed to our suggestion to accord the status of infrastructure to real estate," Mr. Jain, who is also the Chairman and Managing Director of Mumbai-Pune realtor Kumar Urban Development Limited, said.

In a press release, he also shared the general concern over rising cost of housing. "Most importantly a single window system for all clearances will facilitate quick approvals and speedy execution of projects," he said and requested the Centre to issue guidelines to all States to this effect.


Meanwhile, consultancy firm Jones Lang LaSalle has said that even though the Real Estate (Regulation and Development) Bill is expected to bring in transparency in the real estate sector, it also brings with it challenges such as timely project clearance.

"At first glance, the government is yet to streamline the approval process, which significantly slows down the project launch date and adds to the cost burden of the developer," JLL senior analyst Karan Khetan has said.