According to Mr. Deepak Parekh, Chairman, Housing Development Finance Corporation (HDFC), Indian States should look at introducing a single window clearance system for affordable homes.
"The single greatest benefit of having a single window clearance is that it will reduce housing prices because the time taken for approval is 18 months. That will come down", Mr. Parekh said at an international conference on housing, organized by Asia Pacific Union for Housing Finance on April 11th.
For smaller housing units, there is a need for simpler processes and simpler approvals from local municipalities, Mr. Parekh added.
A committee on streamlining approval procedures for various projects had recommended to the Housing Ministry.
"While getting a real estate regulator requires the Parliament approval which may be difficult in the current milieu, a single window clearance is an administrative decision that is eminently doable", said Mr. Parekh.
He also called for tighter regulations for the housing sector.