The chief minister also said that it proposes to extent the online building plan approval management system for multi-family dwellings, commercial buildings and industrial buildings in a phased manner.

In a move that is likely to breathe life into the real estate sector, chief minister Pramod Sawant on Wednesday announced that the infrastructure tax levied on the construction sector would be reduced by 30% for a period of six months from April 1.

“The issue of incidence of double-taxation in stamp duty and registration fees will be streamlined to avoid financial hardships to the housing construction sector,” said Sawant. Sawant also promised to bring in “major reforms” in the functioning of planning and development authorities.

The chief minister also said that it proposes to extent the online building plan approval management system for multi-family dwellings, commercial buildings and industrial buildings in a phased manner.

“We are happy that our representations to the government are met with a positive response. The steps underlined by the chief minister in the budget speech will certainly boost the morale of our sector,” said Credai president Nilesh Salkar.

Sawant also said that notary architects and notary engineers will be empanelled to undertake third party certification of low risk projects. “This certification by professionals will be considered valid by TCP for issuing of technical clearance and completion orders.

The TCP department will also introduce rules and strategies to implement transferable development rights provisions for acquiring much-needed land fees, public projects and to conserve heritage structures, said Sawant.

Source: ETRealty ( https://bit.ly/2Q2fR5r )