In a much needed answer to the long pending demands of the real estate, Union Ministry by the end of November will issue a notification on single window clearance for the urban development projects. The notable proclamation came from the Union Minister M Venkaiah Naidu at ‘The National Strategy Day of India’ organized by the World Economic Forum and industry body CII. The single window clearance was anticipated to commence early in the next year, but the Centre has paced up to notify the notion by the end of this month itself.
By the announcing of single window clearance, government aims to ease down the business activities. They have already announced 100 smart city projects and to provide housing to all by 2022. In order to nurture the business activities for achieving these new era development prospects, single window clearance was much needed and now Centre has positively nodded towards implementing it.
The Centre’s announcement on single window clearance is also highly relevant, as the World Bank’s ease of doing business ranking 2016, for the category of ‘dealing with the construction permits’ had placed India terribly in 183 out of 189 countries. Single window clearance will make India a new breeding ground for business to flourish. For a country like India, which has took friendly stand for FDI’s, through which it has achieved applaud able economic growth, implementing single window clearance will be only act as a catalyst for real estate boom.
Single window clearance is the trade facilitation idea, which when implemented will allow the real estate builders and developers to submit all the necessary documents under one supreme authority and get them verified. Presently, the builders need to get the sanctions from different places and authorities. This has been one of the major reasons for the delayed delivering of properties for clients. The herculean task of getting the clearance certificates for builders for their property will be eased down significantly by the single window clearance.
Single window clearance will gain real estate sector more transparency and efficiency that builders will find it more credible. Along with this, the customers also will feel themselves interested to get engaged into the hustle free realty transactions. Thus, real estate arena will gain more power from the single window clearance and will notch up its graph to unseen levels, where both the builders and clients will reap the advantages together.