State govt accountable for delayed projects: Builders

Mumbai: On Friday in a media conclave conducted by the Confederation of Indian Industry (CII) builders blamed to the civic-body for delaying approvals of pending projects. “As in current scenario real estate market is facing slowdown from last couple of years and on the other hand government is delaying for approvals” senior official said. He added that ‘we are not in planning to hike prices of properties but the major hurdle is pending projects and reason behind is government even if one is following rules.”
Whereas, Runwal Group director Sandeep Runwal said that “if delay in approval continues then in near future may property prices will increase.” Talking about the process of clearances, Lalit Kumar Jain, president of Confederation of Real Estate Developers Association of India said the process involved connecting with more than 150 people in about 40 departments of central and state governments and municipal corporations.
In the conference speakers have raised the several issues which realtors are facing from the government such as pending approvals, FSI hike and many more.

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