CREDAI Believes Delegation of Power May Reduce Rates

CREDAI has welcomed the central government’s decision to delegate the decision making power to the urban local bodies/state governments to ensure environmental compliance for building or construction projects with built up area ≥ 20,000m2 to 50,000m2. CREDAI believes that this move will lead to better implementation of environmental laws and reduce the gestation period by a minimum of 12 months, thereby making housing cheaper. This will also lessen the multiplicity of approvals that are usually needed to attain clearance.
CREDAI has recommended amendments to industry policies in its attempts to provide for a conducive environment to stakeholders. The apex body acknowledges this move as a big relief and a step towards the right direction after going through an era of transition amidst the implementation of landmark reforms in the last 18 months.
With the Urban Local Bodies already being responsible for granting completion certificates, CREDAI states that this decision will further strengthen the onus on them to ensure environmental provisions.