The document discusses the real estate sector in India and the approval process for real estate projects. It provides definitions of real estate and notes that the sector is growing rapidly in India, with demand across residential, commercial, retail, and hospitality segments. It then outlines the 16-step approval process for real estate projects in India, including requirements like obtaining layout approval, site inspections, building permits, various NOCs, environmental clearance, and a commencement certificate. It also briefly defines real estate agency and notes it has two parts - broker and management.

1. NAVEEN SHUKLA
TO,
DR. MRINALI TIKARE

2. INTRODUCTION
Real estate is "property consisting of land and
the buildings on it, along with its natural
resources such as crops, minerals, or water;
immovable property of this nature; an interest
vested in this (also) an item of real property;
(more generally) buildings or housing in
general. Also: the business of real estate; the
profession of buying, selling, or renting land,
buildings or housing.

5. Growth and leverage to higher India
growth
The real estate sector is developing rapidly in India.
The demand side has robust and sustainable macro
drivers across all segments.
Residential
Commercial
Retail
Hospitality

6. Approval Process for Real Estate
Projects
1.Ownership Certificate/Extract
• Time required- 15 Days
• Cost for obtaining approval: Rs. 50 per CTS No. / Property
Registration Card
• Grant of Permission by Revenue Department
2.Building Layout Approval
• Time required – 1 month
• Cost for obtaining approval: Application fee of Rs 28 per square
meter of plot/built up area
•whichever is larger for residential projects or Rs 56 per square
meter for commercial projects)
• Grant of Permission by Development Authority/Municipality

7. 3.Receive site inspection from the Building Proposal Office of
the BMC (Municipal)
A sub-engineer from the Building Proposal Office will
conduct a site inspection within 3 to 4 days of receiving the
file from the survey office. The date and time of the site
inspection are arranged by the company’s architect. The
building company must be on-site when the inspection takes
place. The sub-engineer scrutinizes the potential of the plot
including the provision of civic infrastructure.
4.Obtain "intimation of disapproval" (building permit) from
the Building Proposal Office
Time to complete – 30 - 45days

8. There are about 40 IOD conditions to be met by the
builder to be eligible for applying for commencement
certificate (CC). Major NOCs/IOD conditions are listed below:
a) Non-Agriculture (NA) permission
b) Tree Authority
c) Storm Water and Drain Department
d) Sewerage Department
e) Hydraulic Department
f) Environmental Department (concerned with debris management)
g) Consent to Establish & Operate
h) Ancient Monument Approval
i) Airports Authority of India
j) Traffic and Coordination Department
k) CFO (fire clearance)
l) Structural Plan Approval

9. 4. Submit structural plans approved by a structural
engineer to the BMC (Municipal).
5. Non-Agriculture Permission.
6. Obtain "no-objection certificate" NOC from the
Tree Authority (Municipal).
7. Obtain NOC from the Storm Water and Drain
Department (Municipal).
8. Obtain NOC from the Sewerage Department
(Municipal).
9. Obtain NOC from the Electric Department
(Municipal).

10. 10. Obtain a "no-objection certificate" NOC from
the Traffic and Coordination Department.
11. Obtain a "no-objection certificate" NOC from
the Chief Fire Officer (Municipal).
12. Environment Clearance.
13. Ancient Monument Approval.
14. Consent to Establishment & Operate.
15. NOC from Airport Authority of India.
16. Obtain commencement certificate from the
Building Proposal Office and pay development
charges (Municipal).

11. Agency
•Agency is that branch of the real estate business
which engages the attention of the greatest number
of persons who are concerned with the business,
and in that respect it is of prime importance. It is
divided into two parts...
1.Broker.
2.Management.