New Delhi: The government should implement a dedicated fast-track process for approvals in affordable housing projects, a Ficci-CBRE report said here on Friday.
“Building approval process needs to be streamlined; a separate fast-track process needs to be in place for affordable housing projects,” the white paper on affordable housing said.
It added: “For affordable housing to work, accelerating the building approval processes is critical, in order to limit the gestation and associated costs.”
The report also sought relaxation on registration charges and stamp duties for affordable housing projects.
“To further strengthen the demand for such units, the government should look at rationalising or waiving off registration charges, as well as stamp duties for affordable housing units,” it said.
The report also called for synchronisation of policies at the central and state level to remove ambiguities in availing central incentives, while ensuring compliance in state policies.
“The government needs to regularly release land parcels for affordable housing projects, identified within municipal limits and bring more peripheral lands into developable limits of the city authority,” it said.
On the outlook regarding the sector, the white paper said while recent initiatives of the government have “set the ball rolling”, however the growth momentum of the sector will depend upon the “proactive and reactive pace of the government”.