Realty to get easy clearance boost

The government is keen to bring in an enactment in this regard in the ensuing Budget Session of the Assembly.

As requested by builders, the Chief Minister has also promised to scrap 1.5 per cent VAT on multi-storied buildings, 1963 period NALA tax (Non-Agricultural Land Assessment Act), besides promising to continue payment in instalments of the impact fee on five-storied and above buildings.

Mr Rao decided to meet the builders soon and asked them to come out with comprehensive suggestions to streamline the sector like it has been done in Singapore and other countries.

“We had fruitful discussions with the CM. The CM promised to simplify procedures and scrap VAT and non agriculture tax among other things. We will soon meet him with concrete proposals on the proposed single-window clearances system, which will be a boon to the reality sector in Hyderabad,” said C. Shekar Reddy, president, Confedera-tion of Real Estate Devel-opers Association of India.

He added, “If single-window system is introduced and other irritants are removed, there will surge in the realty sector. We have also sought a common law for construction of buildings near airports without approaching the aviation department for clearances.”

The CM also made a host of promises at the inaugural session of the three-day CREDAI property show at Hitex. On the request of builders, the government promised to take up development of external infrastructure.

“Though it is the duty of government to provide the infrastructure since buil-ders are paying the required fees, it has not been taken up or has got delayed at some places, creating problems for the residents,” said Mr Reddy.