Relax realty norms for faster project execution: Hiranandani

Mumbai: Stating that measures taken by the Central and Maharashtra government in terms of ease of doing business have not percolated to the ground level, real estate tycoon Niranjan Hiranandani has said developers are facing various issues such as delay in clearances.

"The Modi Government as well as the Fadnavis Government (in Maharashtra) have taken various initiatives to ensure ease of doing business. But the reality is that these initiatives have not yet percolated to the ground level," Niranjan Hiranandani, Niranjan Hiranandani, MD, Hiranandani Constructions, told PTI here.

His remarks have come in the backdrop of suicide by Suraj Parmar, a prominent name in Thane realty market, on Wednesday. The 46-year-old shot himself with his licenced revolver apparently because he was fed up with the maze of Government regulations in the realty sector.

Reports have also emerged that Parmar had been facing "harassment" by Government agencies and was tired of constant demands for bribes. Parmar, Director of Cosmos Group, was Thane unit chief of Maharashtra Chamber of Housing Industry.

Hiranandani said the developers have been asking for relaxation in various regulations and norms, which in current form, make it difficult for them to undertake projects and execute them on time.

"Builders have been facing various challenges like delay in approvals and clearances which lead to cost escalation. We have been demanding single window clearance system. The Government is taking steps towards this, but they are not being implemented effectively," he added.