The BJP-led government is expected to soon overhaul the state housing policy.

Q: To ensure speedier clearances and to cut project costs for the real-estate sector in Maharashtra, government to revise state housing policy soon.

Kaushik Bardia,

18th February 2015

Real estate News in Nagpur

affordable housing

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dcr

confederation of real estate developers

maharashtra chamber of housing industry

mchi

maharashtra housing and area development authority

revise state housing policy

real estate in maharashtra

chief minister devendra fadnavis

development control rules

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As od now, in Mumbai itself, all real estate projects are required to get 60 no objection certificates before they are issued a commencement certificate for the project. CREDAI is looking at both reducing the number of NOCs and allowing its submission any time before completion of the project. He added that the present time frame of 6-24 months that is required to issue clearances to real estate projects is also proposed to be brought down to 1 month.

Gurmeet,

21st February 2015

Comment

I appreciate that Gurmeet,
But according to me the only way residential real estate prices can be brought down is by way of government intervention through subsidies or controls. Since neither of it is possible, the only alternative is for the Maharashtra Housing and Area Development Authority to construct as many houses as it can so as to force developers to slash their rates in order to remain competitive.

Kunal,

20th February 2015

Comment

The policy structure will be designed in advice with heads of various municipal corporations and concerned state government departments as well as NGOs and industry bodies such as Maharashtra Chamber of Housing Industry (MCHI) and Confederation of Real Estate Developers’ Associations of India (CREDAI).

Gurmeet,

19th February 2015

Comment

@Gurmeet,
The 2007 State Housing policy was the 1st to pressure on the need for a housing sector regulator and the state is yet to act on it. It also spelled out the marked shift in states approach towards provision of shelter.

Officials said that the current policy review exercise will address issues such as relief restrictions on redevelopment and holding government to encourage skill development and capacity building for the realty sector .

Kunal,

18th February 2015

Comment

As we all know that the cost of a real estate project increases by 15% due to delays in clearances. Therefore we need to evolve a mechanism for less cumbersome procedures and create a climate that will attract investment in realty.

Gurmeet,

18th February 2015

Comment

@Gurmeet,
The meeting will be the first of the many consultations which will then culminate in a revision of the state housing policy that was drafted by the previous Congress-NCP government. This review is aimed at bringing about lesser points of control and fewer levels of approvals for private firms in the real estate sector so that they can build more affordable housing units.

Kunal,

18th February 2015

Comment

Yes, this initiative were taken to ensure speedier clearances and to cut project costs for the real-estate sector in Maharashtra by at least 15%. For that Chief Minister Devendra Fadnavis will chair a two-day conference, to be attended by heads of all urban planning departments and builders associations, in Nagpur next week.

Gurmeet,

18th February 2015

Comment