What’s caus­ing the de­lay in sin­gle-win­dow clear­ances?

If the new gov­ern­ment ac­tu­ally pro­vides has­sle-free ap­provals to hous­ing projects, res­i­den­tial prices can come down by 30% to 35%

HT Estates - - HTESTATES -

to make hous­ing af­ford­able to all, but it is dif­fi­cult to see how this can hap­pen when the cur­rently em­ployed multi-agency ap­proach to project ap­provals adds as much as 40% to the cost of con­struct­ing projects.

If the new gov­ern­ment in­deed pro­vides sin­gle-win­dow ap­proval to hous­ing projects, res­i­den­tial prices can come down by 30% to 35% as a re­sult, says a real es­tate ex­pert.

The in­tro­duc­tion of a sin­gle-win­dow hous­ing project ap­proval sys­tem would make it pos­si­ble for res­i­den­tial de­vel­op­ers to in­crease the sup­ply of hous­ing, which would not only help in ad­dress­ing the coun­try’s mas­sive re­quire­ment for hous­ing but also in­crease the gov­ern­ment’s rev­enue col­lec­tions from in­creased stamp duty and reg­is­tra­tions.

Also, in­creased hous­ing sup­ply will mean health­ier com­pe­ti­tion among de­vel­op­ers, which will re­sult in more ra­tio­nal and uni­form pric­ing. Greater com­pe­ti­tion will also boost in­no­va­tion in project de­signs.

Th­ese con­sid­er­a­tions com­bine to make a very com­pelling case for the gov­ern­ment to fi­nally make sin­gle- win­dow ap­provals for hous­ing a re­al­ity.

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