CREDAI demands simplified procedures and reforms in the real estate norms

According to Mr. Lalit Jain, national president of Confederation of Real Estate Developers Association of India (CREDAI), the way to increase the construction of houses and buildings in the Indian market is to simplify the procedures and the introduction of reforms in the taxation and banking policies of the government. The association has also decided to make a representation to the central government on this issue as it is really bothering them much. A press release from the confederation clearly states that the governing council of the industry body will follow up on its own representation and within 45 days will decide on its own course of action, including going on a strike. Mr. Jain while addressing the annual governing council in Pune further stated that such reform are required to encourage the construction business. The government and the private sector shall go hand in hand for the purpose of meeting the demand for housing which is facing much shortage in the country. The major issues which need to be fixed by the government by introducing major reforms according to CREDAI are delays in project clearances, high land costs, and high rates of taxation and shortage of funds. These factors together contribute in increasing the construction cost which ultimately affects the buyer.