Realty Beat

Builders Demand Urgent Reforms to Enhance Real Estate Approvals, ET RealEstate


115644440

CHENNAI: Builders association of India has called for urgent reforms to streamline the Tamil Nadu real estate regulatory authority (TNRERA) approval process, highlighting key challenges that cause delays and compliance burdens.

Developers say that approvals often take 50–60 days, far exceeding the stipulated 30-day timeline. They suggest raising all queries at once and inviting applicants to authority meetings for faster clarifications, a practice successfully adopted by CMDA.

Concerns over discrepancies in property measurements were also raised. Builders proposed leniency for minor differences in land extents, especially in layouts, to prevent unnecessary delays. Additionally, they urged authorities to exempt quarterly progress reports (QPRs) from requiring CA signatures, citing significant costs.

Other suggestions included accepting scanned copies of original documents for redevelopment projects, requiring only the last-page signature on soil test reports, and enabling document sharing between agencies such as CMDA, DTCP, and RERA to avoid redundant submissions.

Developers also voiced concerns over public disclosure of legal title documents, citing potential misuse by malicious entities. They called for restricted access to protect property owners.

Addressing penalties for selling units before RERA approval, builders emphasised the need for a balanced approach, given the fines outlined in a recent circular. These reforms, they argue, will boost efficiency and ease compliance for the construction sector.

  • Published On Nov 25, 2024 at 09:47 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App




Source link

Exit mobile version