Indian real estate can expect to face a few lesser roadblocks very soon. Union Environment and Forests Minister Prakash Javadekar declared the Government is planning to cut down the whole process of environmental clearance to real estate projects to 60 days.
Speaking at the 15th national convention of National Real Estate Development Council (NAREDCO), Javedekar said that his ministry intends to reduce the whole process of environmental clearance to real estate project to 60 days, in a few days from now. He also declared the getting environment clearances before 2014 was even more difficult and the present government is determined to iron out the issues.
“Average time taken to clear projects was 640 days. After we took over, we made processes so easy that now it takes only 108 days for a project to get environmental clearance,” ET Realty quoted Javadekar as saying.
The minister also emphasized that small procedural delay can be done away with right away, without compromising on environmental clearances. The ministry reportedly is also in discussion with states to make the environmental process smoother and less time consuming. He also said that the priority is both environmental protection and development to achieve “five-trillion-dollar economy” dream.
The ministry reportedly is also in the process of issuing standard conditions for every project, such as water recycling and water harvesting as per the size of the real estate project. These conditions will not be more than 10 per project.
The minister also assured the real estate stakeholders that if the need arises, the government will amend the law so that the developers get the ease of doing responsible business. “Because freedom is never a one-way street.”
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