Ā The Confederation of Real Estate Developers Associations of India (Credai) has sought theĀ Tamil NaduĀ government to launch a single window system for building approvals and reduceĀ stamp duty.
In a letter to chief minister Edappadi K Palaniswami and deputy chief minister O Panneerselvam, Credai Tamil Nadu chairman S Sridharan said the state government should implement the long awaitedĀ single window clearance. It would pave the way for dynamic and vibrant growth of theĀ industryĀ in the state, he added.
The single window system would throw the entire building approvals online, wherein all applications including planning permission and completion certificates would be processed at a click of button.
Credai Chennai chapter president W S Habib said the government should take immediate steps to reduce stamp duty.
“With amendments to the Tamil Nadu Combined Development and Building Rules, we expect that further measures such as reduction in stamp duty on a par with other states will benefit the revival and robust growth of real estate of the state,” he said.
Tamil Nadu has the highest combined registration fee and stamp duty — 11%.
