According to the report presented by the World Bank Report, in terms of construction-related approvals, India ranks 182 among the 185 economies. Delay in the project approvals is one of the major causes for increase in the property prices. It almost increases the property prices by 20 to 30%.Extended time taken for getting approvals leads to price escalation which is incurred by the end users. The World Bank Report stated that the developer have to get almost 34 approvals from different government officials for the construction of the project. Particularly it takes around 196 days for the complete procedure but sometimes it takes years for approvals due to the discretion of the authorities concerned. Acquiring all the approvals leads to increase in the development period of the real estate project. These approvals generally take two to three years for the commencement of the project after buying the land for project development. During this time period the cost of the land substantially rises by 20 to 30% due to the heavy interest charged.However it is justified from the government authorities’ point of view as construction is a complex matter. Hence it is essential for the builders to obtain all the approvals before starting any project. India is a big country and it is doing enough in this regard. Housing and urban poverty alleviation ministry has initiated an agency on Streamlining Approval Procedures for Real Estate Projects (SAPREP). The head of the committee said that India should have a nodal agency that would act as a single window and manages all the approvals from various authorities which would in turn reduce the approval period and eliminate the price appreciation. Though the real estate regulatory bill does not have any provision for single window clearance, there is still a hope of initiating this process soon.займ на карту без отказов круглосуточновзять кредит онлайн