Kerala Govt mulling new measures to streamline real estate sector
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Kerala Govt mulling new measures to streamline real estate sector

Last Updated: Friday, May 02, 2014, 21:23
 
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Kerala Govt mulling new measures to streamline real estate sector
Kochi: In a bid to streamline the real easte sector, Kerala Government was mulling introduction of a slew of measures, including setting up of a real estate authority and online facility for plan approvals, a state Minister said on Friday.

The government was giving final touches to the Real Estate Authority Bill, modelled on the lines of the Real Estate Authority Bill introduced by the Central Government, and a draft of the proposed legislation would be available in the public domain within a month, Urban Affairs and Town Planning and Development Authority Minister Manjalamkuzhi Ali said at 'Recon 2014', Kerala's first real estate convention, here.

"You like it or not, the state government is keen to bring the much needed order to the real estate sector. As a part of this, we will bring out a draft of Real Estate Authority Bill within a month's time. The Bill will be finalised after consultation with all stakeholders in the sector. We are open to all suggestions," he said.

Online facility for plan approvals for builders and property developers was another major step being planned by the government to cut unprofessionalism and graft in the sector, he said.

"The graft involved in getting clearances from authorities concerned to construct a building is enormous and this in fact is leading to escalation of the project cost", he said, adding the new system, coming into effect from June 1, will do away with the illegal practice and make the process transparent.

"Anybody can fill in the form in proper format and submit it and clearance for the building construction will be given before 30 days", he added.

He also said due to the acute shortage of land in the state, Kerala cannot afford to stick to the Costal Regulation Zone (CRZ) norms, and the government had already approached the Centre "seeking exemptions", he said.

K Babu, minister for excise, ports and fisheries in his address, said due to the geographical pattern typical to Kerala, land in the state was facing intense pressure.



PTI

First Published: Friday, May 02, 2014, 21:23


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