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The construction ban on NCR residential properties will go into effect only when the air quality falls into the very low category, according to the rules of the Graded Response Action Plan (Grap).
According to Anarock, a construction ban in Delhi-NCR owing to severe pollution might affect nearly 500,000 under-construction residential units. According to the report, if a construction ban is implemented like last year, around one lakh units in Gurugram alone will be impacted. According to the research, the ban could cause project delays as well as rate increases.
According to the report, 5.68 lakh residential units are under construction in Greater Noida West, Yamuna Expressway, New Gurgaon, Noida Expressway, Dwarka Expressway, Central Noida, Sector 150 (Noida), Greater Faridabad, Raj Nagar Extension (Ghaziabad), Sohna Road, and Golf Course Extension Road in Delhi NCR. These areas collectively contain almost 4 lakh units.
How Will The Real Estate Industry Suffer Due To The Construction Ban?
According to the survey, a development ban due to air pollution might be a significant setback for these projects, as the typical completion rate for residential projects in Delhi NCR is 6–8 years. “Periodic construction prohibitions in reaction to low air quality have major effects,” said Prashant Thakur, senior director and head of research at Anarock.
A one-month ban to all construction activities delays a project by 3–4 months on average. Due to heavy rain and high wind speeds, Gurugram’s air quality has been excellent for the last three days.
According to Parveen Jain, chairman of the National Real Estate Development Council and managing director of Tulip Infrastructure, authorities should not ban real estate activity outright but rather stop external construction activities while allowing plumbing, wiring, tiling, plastering, and other activities.
“Rather than prohibiting all the under construction sites, ban should be imposed on those that cause dust pollution.” It needs to assure that the real estate industry does not suffer as a result of pollution being curbed, he said.
Source- ET
