Tamil Nadu will introduce single window framework for realty projects: CM Stalin.

Our Bureau Tamil Nadu Chief Minister MK Stalin recently indicated that the State will extend the single window system for the construction sector in order to provide approvals within 60 days to facilitate early completion of projects.

The State government has been undertaking various initiatives to support realty sector. While a single window clearance will pave the way for giving approvals within 60 days, there will be permissions and deemed approvals based on self-certification by the applicants, he stated while addressing the inaugural session of Statecon 2021, an event organised by the Confederation of Real Estate Developers Association of India (Credai), Tamil Nadu Chapter.

Introduction of the above measures will be a big boost to the realty sector as the industry has been requesting for the single window clearance system. It will not only help complete the projects in quick time, but also reduce construction costs.

Stalin also hinted that the State government was prepared to re-examine the age-old Acts, including The Tamil Nadu Town and Country Planning Act 1971, Tamil Nadu Apartment Ownership Act 1994, Tamil Nadu Slum Areas (Improvement and Clearance) Act, 1971, among others to simplify processes in the sector in tune with the technological changes and for administrative requirements.

The government will soon pass an order to extend the validity period of building planning permissions, from the existing five years to eight years for the benefit of real estate players, he said, adding this will particularly help developers of large-scale projects.

The CM also urged the industry to come out with projects benefiting poor and middle-income people. Along with high rise and other big projects, the realty industry should also plan more affordable and mid-sized homes to help realise the dream of these sections. “Poor should be enabled to own a house even if the size of the house is small. Inclusive growth is real growth,” he added.

The State government has received a Central sanction to build 6.2 lakh houses at an outlay of ₹31,179 crore as part of its goal to transform into a hut-free State.

During September, the State government clocked revenues of ₹5,973 crore from registration and stamp charges and as of November, the government witnessed a 17 per cent increase in the number of projects registered under RERA, compared to last year.

Earlier, Suresh Krishn, President, Credai Tamil Nadu, said the construction sector was the second largest employer after agriculture, and the sector will play its role to support the State’s vision of becoming a $1-trillion economy.

HBL