The Confederation of Real Estate Developers Association of India (CREDAI), Coimbatore, has welcomed the recent Government Order according to which Corporations can approve residential building plans with built up area up to 7,000 sq.mt.
Surender Vittel, president of CREDAI Coimbatore, has said in a press release that this would enable the public to get approvals at the Corporation itself. There are signs of revival of the market in the recent days, especially for housing plots and residential units and it reflected in higher registrations last month.
The powers of the Local Planning Authority have not been increased and remain at 15,000 sq.ft for residential buildings. CREDAI Coimbatore appealed to the State Government to enhance the powers of the LPA too so that residential buildings with built up area up to 50,000 sq.ft can be approved by the respective LPA.
This will speed up construction activity, he said.
