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Real estate body hails new green guidelines by govt

New guidelines issued by the Union environment ministry will give more flexibility to state governments in taking decisions about high-rise buildings, the National Real Estate Development Council (NAREDCO) has said.

The new norms allow local administrations to decide on high-rise buildings based on issues such as population density and pressure on land, said Sunil Mantri, vice president of NAREDCO.

He said the new guidelines will help in clearing many stalled projects and also encourage slum rehabilitation plans.

The Union ministry of environment and forest has issued guidelines after taking suggestions from various state governments and experts from real estate industry.

The ministry also examined the representations and recommendations of the committee constituted under the chairmanship of Dr. K Kasturirangan, member of planning commission.

“We are glad that the anomalies within earlier guidelines have been removed. The new guidelines will help more than 100 projects to complete construction. Our estimate is that nearly Rs. 10,000 crore has been blocked in such projects,” Mantri said. He said that authorities in congested cities such as Mumbai had been facing major challenge in implementing the norms related to road width and height of buildings.

“Allowing local planning authority and the state government to follow the local rules and regulations is the most practical solution to the issue,” he added.

The NAREDCO vice president also praised Maharashtra chief minister Prithviraj Chavan for his contribution towards bringing changes in the guidelines, saying that the real estate industry will always remain thankful to him for his efforts.

With about 1,100 high-rises at present, Gurgaon has found its place in the list of Indian cities witnessing vertical growth. According to experts’ estimates, the city will have nearly 1,500 new multi-storey towers in the next few years.

Source: Hindustan Times

By vayaM CS