Maharashtra govt to help ensure real estate projects complete on time

Asking developers to take up affordable housing projects, state Finance and Planning Minister Sudhir Mungantiwar on Monday said the government will provide all the necessary assistance to ensure developments are executed in a time-bound manner.

"Developers have been demanding single window clearance for undertaking housing projects. We are conscious about their demand and thus we have made single window clearance as a priority," he said at a real estate summit organised by National Real Estate Development Council (NAREDCO).

The minister said developers will receive faster clearance resulting in quicker delivery and at a reduced cost.

"People should invest in real estate and developer community should execute projects with seriousness which is time-bound," Mungantiwar added.

Housing Development Finance Corporation (HDFC) Vice Chairman and CEO Keki Mistry said that opening of FDI should be concentrated on affordable housing.

"FDI should be concentrated on affordable housing, Digital India, smart cities so that enough housing stock is created across India. REITs will also play an important role for developers in the coming years. This is the opportune time for investment in India," he said.