‘Maharashtra CM announces measures to bring transparency in real estate: positive, says Niranjan Hiranandani’
MUMBAI, 26 DECEMBER 2014: Real estate developers in Maharashtra have been positive to the announcement on 22nd December by the Maharashtra Chief Minister, Devendra Fadnavis, wherein he announced a series of measures in the Maharashtra Legislative Council which will help reduce time taken to start construction. This, effectively made it a welcome announcement for home seekers who have been faced with delays in possession of under construction homes in recent times. This is part of the process to bring transparency and increase the ease of doing business in the real estate sector, according to media reports. "Any positive move needs to be supported, and I am sure the Maharashtra Chief Minister has the best intentions, and the impact will be positive," said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL).
Media reports said the Maharashtra Chief Minister said builders and developers would be able to obtain permission to start construction within seven days from their respective municipal authorities or district authorities, if the building plan submitted by them was as per the 57 building designs approved by the government.
“Creating affordable homes will now become a reality, if this effectively reduces the time that used to be taken in getting the permissions,” said the HCPL MD. “It will also ensure home seekers get homes within the stipulated time. In the present scenario, real estate developers, after submitting their building plan, have to wait for the No Objection Certificates (NOC) from several municipal departments, such as fire safety department, drainage and sewerage department as also the road department before they get final permission from town planning department to start construction. In some cases, it used to take up to two years before a real estate developer could start the actual construction. Definitely, the announcement is a welcome one,” he added.
Media reports quoted the Maharashtra Chief Minister Devendra Fadnavis as having announced these measures in the legislative council on 22 December. The Maharashtra Chief Minister was also quoted in media reports as having announced higher Floor Space Index (FSI) for industrial and educational activities and also decentralized the powers to grant such FSI at the district collector level. Niranjan Hiranandani, MD, HCPL was positive about this announcement. “Till now, files to grant higher FSI for industrial and educational activities had to be approved by the chief minister, delegation is always better than excessive regulation,” he added.
Niranjan Hiranandani concluded by saying he welcomed the Chief Minister’s announcements, and said he looked forward to more such initiatives by Maharashtra Chief Minister, Devendra Fadnavis.
KEY WORDS: Maharashtra, Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd, HCPL, Chief Minister, Devendra Fadnavis.