New Delhi: The realty body CREDAI has written a letter to Prime Minister Manmohan Singh listing out concerns of the industry such as delay in project sanctions, liquidity crunch and high input cost and has sought various reforms to boost growth in the sector.
The Confederation of Real Estate Developers' Associations of India (CREDAI) has submitted a letter to the Prime Minister detailing the roadblocks, the solutions and the way forward for the growth of the housing industry, the association said in a statement.
The letter pointed out that issue like delay in approvals of realty projects that escalates housing costs substantially and compulsory reservation of 20 percent land/floor-area ratio (FAR) for economically weaker section and and lower income group in every private sector development project.
It has also brought to notice the narrow approach of Real Estate Regulatory bill and artificial escalation of cement prices.
Through the letter, CREDAI has suggested reforms that can bring lasting solutions to the real estate sector.
CREDAI has pitched for e-based standardised single window approval process, removal of FAR and bringing land reform measures, rationalisation of taxes, clearing of restrictive banking provisions along with grant of infrastructure status to realty sector to boost growth.

"This representation to the Prime Minister is an effort by the developer community to bring forth the impediments and the roadblocks in front of the esteemed leader of the country," CREDAI President Lalit Kumar Jain said, adding that letter also contain suggestions.
Jain said that CREDAI would follow up with the Prime Minister's Office (PMO) to intervene.
"...In case of failure, we decide to go on one day strike and then indefinite strike," he added.