According to the housing projects report, the total number of housing projects that were under construction, till December 2016, was 3511. 2301 projects out of these 3511 were at the execution stage. But, out of these, 826 faced housing project delays and 60 faced commercial project delays.
Punjab was the highest defaulter in real estate and construction projects with a total delay of 48 months, as registered by the housing projects report. Punjab was closely followed by the states of Telangana and West Bengal with delays of 45 months and 44 months respectively.
Andhra Pradesh, Madhya Pradesh and Uttar Pradesh, all these three states registered a delay of 42-months. On the other hand, s delay of 39 months was registered by Maharashtra.
The higher officials are convincing the government to imply the system of single-window for the real estate projects to get clearance. This is because the entire procedure of obtaining various certificates and approvals from concerned authorities is the main cause of the burden of cost and time. This overburdening results in the housing project delays ultimately leading to corruption.
The government should encourage the development of real estate projects instead of just putting regulations.
State governments must also adopt computerized system of maintaining records online otherwise even Housing for All projects getting delayed in India will become common.
Buying a home is a significant milestone, but the hefty price tag isn't the only…
Tax lien certificates are those that are given to investors who demonstrate their interest in…
The Hindu Marriage Act of 1955 and the Hindu Succession Act of 1955, respectively, set…
Paying a house rent is an important and recurring monthly expense for an individual. Generally,…
Investing in real estate necessitates a lot of research, legwork, and hefty investments. Hence, a…
You're buying or selling a property – an exciting time filled with possibilities. But amidst…
This website uses cookies.