Activism and Strict Environmental Norms Hinder Real Estate Growth in Pune
Persistent activism and stringent environmental regulations are posing significant challenges to the real estate sector in Pune, according to industry leaders. The increasing number of show cause notices from pollution control authorities is causing delay
Real EstatePuneCredaiEnvironmental NormsActivismReal Estate PuneJan 19, 2025
Manish Kaneria, head of the environment committee of Credai (Confederation of Real Estate Developers' Associations of India), highlighted this issue on Friday.
He stated that there has been a surge in show cause notices from pollution control authorities, primarily due to complaints by activists.
Credai is a prominent body representing real estate developers in India.
'The green norms are incredibly complex, and it is extremely challenging for developers to comply with them in full,' Kaneria said at a real estate expo organized by the industry body.
He added that developers often approach the Maharashtra Pollution Control Board (MPCB) with their grievances, seeking assistance in navigating these stringent regulations.
MPCB officials, however, maintain that they provide developers with adequate time to respond to show cause notices.
'If the irregularities are not corrected within the given timeframe, the board will have to take action,' an MPCB official explained.
The impact of these regulatory actions on large real estate projects is significant.
Bharat Agarwal, president of Naredco Pune (Pune Real Estate Developers' Association), noted that many large projects are currently on hold due to environmental issues.
This situation is likely to result in a reduced supply of new homes, exacerbating the housing crisis in the city.
Ranjit Naiknavare, president of Credai Pune, acknowledged that developers are making efforts to comply with anti-pollution rules.
'Most developers are adhering to municipal norms to minimize dust pollution.
They are using green nets for barricading and regularly watering structures to keep dust levels under control,' he said.
However, Naiknavare pointed out that a significant portion of the dust and pollution comes from ongoing infrastructure projects such as road works and the metro.
The real estate sector in Pune is facing a complex challenge.
While the environmental activists and regulatory bodies are focused on protecting the environment, developers are struggling to balance compliance with the need to deliver housing projects on time.
This tension is likely to continue, with potential long-term implications for the city's real estate market.
Frequently Asked Questions
What is the main issue affecting the real estate sector in Pune?
The main issue affecting the real estate sector in Pune is the persistent activism and strict scrutiny of adherence to environmental norms, leading to increased show cause notices from pollution control authorities.
Who is Manish Kaneria and what is his role in this issue?
Manish Kaneria is the head of the environment committee of Credai. He highlighted the challenges faced by developers due to complex green norms and the increasing number of show cause notices from pollution control authorities.
How are developers responding to the environmental regulations?
Developers are approaching the Maharashtra Pollution Control Board (MPCB) with their grievances and making efforts to comply with anti-pollution rules, such as using green nets for barricading and watering structures to control dust.
What is the likely impact of these regulatory actions on the real estate market in Pune?
The regulatory actions on environmental issues are likely to affect the supply of new homes, as large real estate projects are getting delayed or stuck due to compliance issues.
What is the stance of the Maharashtra Pollution Control Board (MPCB) on these issues?
The MPCB officials state that they provide developers with enough time to respond to show cause notices. However, if the irregularities are not corrected, the board will have to take action against the non-compliant projects.
Related News Articles
How Maharashtra Election Results Could Impact the Stock Market
The recent election results in Maharashtra may have significant implications for the stock market, particularly in sectors like real estate, infrastructure, and consumption. This could give a boost to real estate developers, construction, and infrastructu
Embassy Group Launches India’s First Integrated GCC Platform – EMBARK
Embassy Group, a leading real estate developer in India, has launched EMBARK, the nation’s first integrated platform designed to connect Indian businesses with the Gulf Cooperation Council (GCC) countries. This move is expected to revolutionize the real estate and business landscape.
Reimagining Pune's Urban Development: Experts Weigh In
Pune's urban development conclave brings together experts to discuss sustainable growth strategies for the city.
ARI Stock Dips to 52-Week Low at $8.52 as Market Trends Shift
Apollo Commercial Real Estate Finance (ARI) is experiencing significant market pressure, with its stock hitting a 52-week low of $8.52. Despite this, the company anticipates an operating earnings boost from investing in non-performing loans.
Shah Rukh Khan's Massive Real Estate Move: Rents 2 Duplexes in Pali Hill for ₹2.9 Crore Yearly
The star-studded neighborhood of Pali Hill in Mumbai is set to welcome yet another Bollywood icon. According to registration documents accessed by Zapkey.com, Shah Rukh Khan has made a significant real estate move by renting two luxurious duplexes in the
Maharashtra Assembly Elections: Mahayuti Alliance Nears Seat-Sharing Deal
The ruling Mahayuti alliance in Maharashtra is close to finalizing its seat-sharing arrangement for the upcoming assembly elections. The Bharatiya Janata Party (BJP) is expected to contest the highest number of seats, followed by the Shiv Sena and the Nat