Naredco appeals to Centre for speedy project clearances

Naredco members who took part in a webinar on “Ease of Doing Construction in the wake of Covid: Realty Check”, deliberated upon multiple aspects of construction and real estate sector on how best the processes can be eased to give a boost to the sector

Hyderabad: Indian real estate developers are seeking Central government intervention for quicker project clearances, providing immediate relief to the sector that is affected by Covid-19 pandemic, extending support from allied sectors and making necessary policy interventions.

Naredco members who took part in a webinar on “Ease of Doing Construction in the wake of Covid: Realty Check”, deliberated upon multiple aspects of construction and real estate sector on how best the processes can be eased to give a boost to the sector in the wake of pandemic and beyond.

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Speaking on the occasion, Durga Shanker Mishra, secretary (MoHUA), Government of India, said, “Real estate contributes seven per cent to India’s GDP and 11 per cent to employment generation. The government has been taking reforms to help the real estate sector to grow. As a part of the ambitious affordable housing programme, the government has already handed over 48 lakh affordable houses. The Centre has continuously backed the sector in consequent budgets.”

He said the government has been taking measures to improve ease of doing business, with the country climbing ranks in the table year-on-year. Very soon, India will be among the top 20 nations in ease of doing business and is addressing bottlenecks of the developers. Mishra further added, “Amid the pandemic, the real estate sector has to ensure that the workers are vaccinated so that the construction community is secured, and payments to labour are made digitally and timely. To ease buying of properties, developers should step up digital transformation.”

Industry demand

Appealing the government, Rajan Bandelkar, vice president, Naredco, said, “Government can ensure quick approvals particularly from the Civil Aviation and Ministry of Environment & Forests for speedy implementation of real estate projects, immediate relief to real estate sector, support from allied sectors and the necessary policy reforms.”

Neel Raheja, chairman, Naredco, Maharashtra, said, “India is emerging as a major Grade A office market. IT and ITeS are driving growth in commercial real estate. Warehousing is another sector where there are abundant opportunities. Flexi-manufacturing and data centres are going to impact real estate in India. However, there is a need to relaxing SEZ policy for ensuring ease of doing business for both the existing and prospective tenants.”

Ashok Patni, president, Naredco Rajasthan, said, “Redevelopment of housing projects in the State have been stalled for several years, which need to be streamlined. Clearances from the civil aviation department need to be streamlined.” There was also an appeal to keep a check on the domestic prices of steel and cement as the prices consistently have been mounting month-on-month. Input costs are going to impact the implementation of housing projects. Naredco appealed that the subvention scheme can be reintroduced to bring in trust among buyers in the residential sector.

Suresh Patel, president, Naredco, Gujarat, said, “Government should take measures to make housing projects affordable. While the GST and government levies are increasing, the developer profits are reducing, further impacted by material cost increase. There can be dedicated committees to make the government levies reasonable in order to make housing affordable.”

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