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Construction Ban

The effects of construction ban on real estate industry – RealtyMyths

by Saloni Bisht “Delay is the enemy of progress.” Eliot Spitzer The Indian Real estate industry has a very shady reputation for more than enough reasons. Over the years, due to countless scams, fraud, incomplete projects, delay in possession, and many such cases, this image of the real estate industry has been formed. Delay, in particular, is the main drawback of the industry. Reasons like, fund crunch, red tape, delay in getting approvals or using the funds for another project further leads to the delay in possession. Apart from these existing reasons, banning the construction for some time would only add on to the worst condition. Having said the Supreme Court recently passed an order to ban construction in the national capital region. This measure was taken to get control over the upsur...

Weekly News Round Up – RealtyMyths

Welcome back to our weekly news round up. Here are some important updates from this week. Beginning with the update from Ghaziabad. The Ghaziabad Development Authority has sent a revised list of 200 illegal or unauthorized colonies in the district to the stamp and registration department to stop their registration. Next update about the development of Chennai Metro Phase-2. In a major fillip to the metro rail network in the city, the Japan International Cooperation Agency on Friday sanctioned Rs 4,760.67 crore loan to kick-start the 107.55km Phase-2. Next update from Gurugram’s construction industry. The Haryana State Pollution Control Board (HSPCB) has show-caused two prominent real estate developers M3M India and Supertech for allegedly defying a construction ban imposed across NCR by EP...

Weekly News Round Up

Welcome back viewers and here are the weekly real estate and city infrastructure updates for you. Let’s start with some of the updates from the construction industry. Supreme Court put a ban on construction activities in Maharashtra, Uttarakhand, Madhya Pradesh and Chandigarh. The court took this decision to panelise the state governments for not forming the policies on solid waste management. However, with prompt action from the governments of Maharashtra and Uttarakhand, the court lifted ban in these two states later this week. The developers’ community are worried over this decision as this will lead to further delay in construction and possession of the properties.  They are asking why they should be panelised for the negligence done by the government! News from Kolkata, on Tuesday, a ...

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