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Credai seeks single window clearance, reduction in stamp duty in Tamil Nadu

CHENNAI: The Confederation of Real Estate Developers Associations of India (Credai) has sought the Tamil Nadu government to launch a single window system for building approvals and reduce stamp duty. In a letter to chief minister Edappadi K Palaniswami and deputy chief minister O Panneerselvam, Credai Tamil Nadu chairman S Sridharan said the state government should implement the long awaited single window clearance. It would pave the way for dynamic and vibrant growth of the industry in the state, he added.

The single window system would throw the entire building approvals online, wherein all applications including planning permission and completion certificates would be processed at a click of button. Credai Chennai chapter president W S Habib said the government should take immediate steps to reduce stamp duty. "With amendments to the Tamil Nadu Combined Development and Building Rules, we expect that further measures such as reduction in stamp duty on a par with other states will benefit the revival and robust growth of real estate of the state," he said. Tamil Nadu has the highest combined registration fee and stamp duty -- 11%.

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