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Environmental Regulations That Influenced Real Estate In 2016

Environmental Regulations That Influenced Real Estate In 2016

Environmental Regulations That Influenced Real Estate In 2016
(Dreamstime)

Sustainability and green building concepts have gained popularity given the impact construction are having on the environment. Urban development, today, is driven by thoughtful planning with the idea of safeguarding the environment along with providing a contemporary and secure habitat.

The Ministry of Environment, Forest and Climate Change and agencies like the National Green Tribunal (NGT) in 2016 took some strong steps towards ensuring regulated construction, which doesn't impact the environment.

Makaaniq lists some of the key regulations and steps that were taken on the environment front:

  • The environment ministry proposed that the construction sector will not require mandatory environmental clearances under the Environment Protection Act 1986, provided the states impose pre-specified green norms under building bye-laws. The move is aimed at facilitating business in the realty market as well as at promoting the Housing For All by 2022 initiative. Under this, projects with a built-up area of 150,000 sq mt received exemption from undergoing environment impact assessment.
  • NGT set out guidelines, earlier this year, which said that developers must use only treated sewage water for construction purposes.
  • NGT also passed a mandate that it is the developers who will be accountable for the air pollution caused due to construction in the national capital.
  • In addition to the above, the NGT and the Supreme Court have actively taken steps to tackle key issues with the developers in some cities for ensuring eco-friendly development activities. For instance, the Appellate Authority (NGT) ordered expansion of buffer zones for maintenance of green zones around wetlands and lakes in Bengaluru. Also, approximately 40 developers were fined Rs 50,000 each, for flouting NGT norms in Greater Noida.
  • Correspondingly, the developer community is also taking stringent measures to ensure compliance with the Real Estate Regulatory Act (RERA) and directives made by the Central Government towards environmental conservation.
Last Updated: Thu Dec 29 2016

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@@Fri Jul 05 2019 13:15:19