NRI Real Estate and Property Investment in India
 |  WWW.NRIREALTYNEWS.COM
 
Delay in Realty Projects: A Regular Phenomenon in West Bengal
Friday, October 19, 2007

Property prices in Kolkata are going through roof. Bureaucracy and red tape are to be blamed which ensures a delay in real estate projects in kolkata and a high surge in property prices.

West Bengal is the slowest in terms of providing formal approval to commercial and residential real estate projects which result in inordinate delays.

Other states take around 15-25 days to start development after planning is over, whereas, the time may stretch to a year-and-a half to two years for the same, says Mr Santosh Rungta, Vice President, CREDAI.

In Gujarat, any real estate project can get a nod within 15 days. The government of Jharkhand sees that the development begins within three months after the plan is submitted, adds Mr Rungta.

The Urban Land Ceiling is a major cause of the delay. And the departments like Fire and Emergency Services, Land and Land Reforms, Environment, and the civic bodies work at their own pace.

This adds to the delay time to issue clearances to a project. With land becoming a major issue in the state, getting hold of a plot is a tough issue and takes anywhere between six to nine months.

A residential project in Behala has not even started as the West Bengal Industrial Development Corporation has not handed the land to the concerned builder even after nine months selling the plot.

However, this is not the only case but there are a number of such cases in the state.

Related Readings

»Real Estate Developers Vie for Prime Kolkata Property

Add to your Social Bookmarks:
ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON
ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE  

 

 

Return to India

NRI INSURANCE

NRI SERVICES

 

Indian Cities Guide

DELHI   NOIDA   GHAZIABAD
         
GURGAON   MUMBAI   AHMEDABAD
         
KOLKATA   CHENNAI   HYDERABAD
         
BANGALORE   PUNE   CHANDIGARH
         
..More cities »
NRI Communities in Different Countries  
Indian Embassies & Consulates in Different Countries
 
NRI Newsletters  
NRI Feeds - Syndications