[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Hyaemin Park staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.|
BENGALURU: The industry body for real estate, Confederation of Real Estate Developers’ Associations of India (Credai), has urged the Karnataka
government for a special package to revive the sector.
Credai-Karnataka has urged the state to do away with the No Objection Certificates (NOCs) for plan sanction, in order to cut down the time lost due to
duplication of processes during development plan and building plan sanction.
“Land approval and buying is very cumbersome in Karnataka; the Land Revenue Act is very archaic. The source of financing is limited, the only thing that
can reduce cost is timely approvals,” said Irfan Razack, the managing director of Prestige Group.
Credai said real estate and infrastructure growth have been drivers of economic growth as well as job creation globally, and India was no different.
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