Single Window Clearance will pull down property prices in Pune

In what has been considered a major move for developers, the ‘single window clearance’ system is likely to bring in a breath of relief for the developers in Pune. Acquiring permission from the state and Union Government along with the local bodies takes more time than expected. This, as a result, shoots up the project cost, making houses more expensive. A single window clearance will put a nip in the bud of the escalating project costs.

According to Credai officials, the developers in Pune come across a number of issues, some of which include finance costs, higher input, exorbitant rates and lack of bank finance for realty projects. With the advent of a single window system, the builder’s fraternity in Pune will be able to acquire the necessary clearance (especially the environment clearance) for different housing projects in no time.

Reduction in housing cost

Quicker approvals will aid the builders and realtors cut down on the construction tenure, which will taper off the financial costs. This, as a result, will bring to pass bigger housing stocks and make enclaves more affordable.

In addition to speeding up the approval process, with the help of a single window end-users will be on the receiver’s end since the cost will trim down by 10-20%. With the functioning of the system, approvals that took 9-12 months time to get clearance from different departments will get authorization in no time.

Certain projects do not require EC

Residential projects that are within the city boundaries and sanctioned under the development plan, do not require permission from the environment department. This is due to the reason that the development plan is sanctioned by the environmental industry only after its impact is properly analyzed and assessed.

However, according to Credai officials, the cut-off level for project size that require environmental clearance is off the wall. This phenomenon holds true because of the fact that a project measuring 20000 sq meters would require clearance from different departments, whereas another project of less than 100 sq mts does not need it. For Greenfield township ventures, project-wise approvals is not a mandate.