The Hindu : Karnataka / Bangalore News : ‘Reduce approval time for building projects'

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Sunday, Jan 30, 2011
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Karnataka

Karnataka - Bangalore

‘Reduce approval time for building projects'

Staff Reporter

Bangalore: It takes a builder up to a year on an average, from the time of their investment, to get government approval for their projects in the State — an impediment that must be overcome, representatives of the Confederation of Real Estate Developers' Association of India (CREDAI) have said.

In Tamil Nadu, the approval takes up to two years, said T. Chitty Babu, president of CREDAI, Tamil Nadu. Meanwhile, in Kerala, it is received in as few as 10 days, Mr. Babu pointed out

Representatives from the four south Indian States must come together to initiate a dialogue with their respective governments on best practices and building bylaws in order to reduce the time taken to get approval, he said.

CREDAI, comprises 6,000 private real estate developers and is responsible for 60 per cent of real estate projects in the country.

Karnataka CREDAI president Sushil Mantri said the State faced a 30 per cent shortfall in skilled labour. A skill pool must be created through training, he added. Bangalore itself adds 20,000 apartments and 40,000 independent houses annually, he noted.

Conference

South India's first real estate development conference, Southcon 2011, will be held here on February 4 and 5.

The conference will bring together developers to discuss best practices and concerns in areas such as transparency, cash flow management and innovative market techniques.

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