Construction Ban In Delhi-NCR Need Of The Hour But Poses Project Delay Risk, Say Real Estate Developers, Real estate players said that though the move is the need of the hour, it will pose a challenge for the realty sector as the delivery of the ongoing projects will be delayed due to the month-long ban
As per the revised graded response action plan (GRAP) for the NCR, if the air quality turns "severe" (stage III), authorities will have to enforce a ban on construction and demolition activities in the region.
Air quality in northern India turns very poor with the start of winters. As winds drop, air pollutants linger, and the situation worsens with smoke from crop stubble burning in Punjab and Haryana. The government, however, is yet to impose a ban this season.
In 2022, mostly freebies including gold coins, phones, modular kitchens etc were on offer, but this year the offers are centred around financial and flexi-payment schemes.
Over the past year, companies such as Max, L&T, Gaurs, Saya, Paras, and Gulshan have purchased land valued at Rs 3,000 crore and initiated projects with revenue potential exceeding Rs 10,000 crore.