Insta
UP Begins Process To Create Single-Window Clearance System For Real Estate Sector
Real estate
In a positive development, Chief Minister (CM) Yogi Adityanath-led Uttar Pradesh (UP) Government has kickstarted the process of creating a single-window clearance system for real estate developers to give a fillip to the sector, reports Economic Times.
From the land acquisition stage to the completion of a project, a builder presently has to take 70-80 different permissions from different authorities throughout the course of executing a project. This task of getting permissions alone takes up between a year to two, resulting in cost overruns.
The single window system is expected to demolish the existing process and make it a significantly simple process for the developers to receive all the necessary clearances.
For the creation of the system, the UP Real Estate Regulatory Authority (RERA) last week invited the bids for selection of consultants for benchmarking the existing policies and procedures of different authorities in the State.
As per UP RERA's chairperson Rajiv Kumar, the aim is to bring all the development authorities under one roof and ensure clearance in a time-bound manner. It will provide a one-stop integrated service to real estate promoters.
The system is also expected to check delays in approval and clearance processes by putting and tracking Service Level Agreements (SLAs) on each activity involved.
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