CREDAI (Confederation of Real Estate Developers Associations of India) national president Lalitkumar Jain, said the developer community was being branded as being corrupt.CREDAI Mumbai to seek an appointment with the prime minister to discuss ways and means to check the cancer of corruption instead of indulging in blame game.
“The Confederation today presented a time-bound action plan to union urban development minister Kamalnath at the two-day 11th National Conference ( NATCON) of CREDAI in Singapore,” said a CREDAI official.
“This country is, sadly though, rated to be one of the most corrupt nations of the world. Any citizen of this country will feel hurt and humiliated. The real estate in India is rated to be the biggest contributor to this notoriety. I and all my colleagues in real estate feel greatly insulted, said Jain
He added that developers were victims of the system and not the beneficiaries. Jain said the real estate sector was being branded as the breeding ground for black money and corruption.
Talking about the long process of clearances, he said this process involved connecting with more than 150 people in about 40 departments of central, state government and municipal corporations. “After investing heavily in land, even a day’s delay in approvals adds to the costs. And in desperation and when speed becomes important, the concept of speed money creeps in,” he pointed out.
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