May 22, 2025

The President of the Confederation of Real Estate Developers' Associations of India (CREDAI), Satish Magar, pointed out the significant disparities in the speed of obtaining approvals between commercial and real estate projects. He emphasized that commercial projects encounter fewer obstacles and can progress swiftly, while real estate players face delays due to cumbersome approval processes. Magar urged the Tamil Nadu government to accelerate the approval procedure for real estate projects to streamline the development process. The Real Estate Regulatory Authority (RERA) and the government need to work together to facilitate smoother and quicker approvals to spur growth in the real estate sector. Magar highlighted that expedited approvals would not only benefit developers but also provide homebuyers with timely access to properties. He stressed the importance of aligning the approval process with the pace of commercial projects to enhance overall efficiency in the real estate industry. Magar's call for expediting approvals resonates with the broader real estate community as they navigate regulatory challenges amidst the evolving market dynamics.

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Tags: Real estate, Credai, Commercial projects, Approvals,