Green Norms: In the beginning of 2012 The Ministry of Environment in India declared that any area development projects or construction projects must have a clearance from Pollution Control Board of the respective State or Union territory under Green Norms. Under Construction Projects In Mumbai According to this norm a construction or building with the height of sixty meters or above must have an environment clearance. The construction should be situated beside thirty meter wide roads and must have fire station within two kilometer range. Construction or building having a height between forty five and sixty meter must have at least twenty four meters wide approaching road and fire station within four to five kilometers. Thirty to forty five meters high building constructions must have eighteen kilometer wide roads impending and the fire station must not be more than ten kilometer away from the construction site. Constructions of fifteen to thirty meters of height must have fifteen meter wide road beside and in this case no rules is laid on fire station range from the construction sites.
Realty Sector In Mumbai: As usual many Mumbai Under Construction Mumbai Under Construction Projects approvals remain pending as they are violating the rules of Green Norms. Since 2012 the realty zone of Mumbai has been suffering as their existing stock of residential was facing challenges from the micro-markets running in the suburbs. Under Construction Residential Projects Rate In Mumbai is soaring owing to delayed approvals from Pollution Control Board, hype in the rate of input costs like investment in land acquisition, demanding labor resource and construction material suppliers who are also going through business crux more or less same reasons.
Now ministry of Environment has shown some flexibilities on these rules rested down by the Green Norms as they have understood land acquisition according to the norms is utmost impossible as there is crisis of land in Central Mumbai where already many big projects have taken place or ongoing. The realty sector has to change its base as buyers are looking for their residence in the northern periphery of Mumbai as it is less polluted and congested area as well as the Under Construction Residential Projects Rate In Mumbai is more cheaper than the Central area. Under Construction Flats In Mumbai The economic instability that is emerging due to the reasons discussed above is hoped to subside with the approvals of still pending Mumbai Under Construction Projects and developers will discover the realty sector to be the most profitable as it was since 2007.
