Maharashtra Chamber of Housing Industry (MCHI) has welcomed Chief Minister Prithviraj Chavan’s move to ensure sale of residential property by carpet area, and appealed to the government to extend the norm for stamp duty and clearance of plans.
“We have already initiated steps like the self regulatory Code of Conduct for developer members envisaging sale-by-carpet area,” said MCHI President Paras Gundecha.
“MCHI suggests to the government that carpet area should be the common measurement unit for even for levying stamp duty and while clearing building plans,” said Mr. Gundecha.
The real estate industry at state as well as national levels has been campaigning for rationalisation of stamp duty across the country and the governments should take immediate steps in this regard, he said. MCHI, he said, has initiated several measures, including the code of conduct and a consumer redresser forum to make the dream home buyers a happy lot. “But there is a lot more to be done by the government. For instance, if the real estate development plans are cleared quickly, we could save a lot of time and even money,” he said and called for implementing a single-window system for submissions and clearances of plans.
“Real estate reforms are not the job of any single agency. We, as the developer representative body, are always willing to do our bit, whereas much of it has to come from the government and civic bodies,” he said.
In this connection, Mr. Gundecha also pointed out there are several factors that contribute to rise in property costs. The cost of inputs like steel, cement, labour, power, fuel and transport are always on the rise. Adding to this is the rising cost of funding due to the interest rate hikes, he said and called for concerted efforts by all concerned to check realty prices.
Maharashtra Chamber of Housing Industry (MCHI), formed in 1982, is the most prominent and the only recognized body of Real Estate Developers in Mumbai and MMR. MCHI brings together members dealing in Real Estate Development on one common platform to address various issues facing the Industry. Members of MCHI account for 80 per cent of Development of New Residential Accommodation and Commercial Properties in Mumbai and MMR MCHI helps both the Central and State Governments in meeting their objectives of providing housing, which is a basic necessity. MCHI has a strong Membership of over 1,000 leading Developers in Mumbai and has expanded across MMR, having its own units in Thane, Kalyan -Dombivali, Mira – Virar City, Raigad and Navi Mumbai. MCHI works towards raising awareness among the General Public, Real Estate and Construction Industry while providing them with detailed information on projects and new Developments in and around Mumbai and MMR.
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