HomeNewsBusinessReal EstateAs pollution reaches alarming levels, Centre calls halt to construction across NCR 

As pollution reaches alarming levels, Centre calls halt to construction across NCR 

Realtors say the ban on construction causes losses of thousands of crore rupees every year besides delaying project timelines and affecting homebuyers.

November 04, 2022 / 18:46 IST
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With air pollution reaching alarming levels in the National Capital Region, which includes New Delhi, the Centre’s air quality panel has directed authorities across NCR to implement stage IV of the Graded Response Action Plan (GRAP).

The measure includes a ban on diesel vehicles and all types of construction, except those of national importance, which realtors say causes losses of thousands of crore rupees every year besides delaying project timelines and affecting homebuyers.

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The ban on diesel vehicles, too, will impede real estate projects; such vehicles are engaged in transporting construction material to sites.

The stoppage of construction gives rise to problems such as payment of bank interest on loans serviced by realtors, adherence to statutory timelines, wages paid to labour and machinery costs that are borne by realtors, said Amit Modi, president of the western UP chapter of the Confederation of Real Estate Developers' Association of India (CREDAI).