The Brihanmumbai Municipal Corporation (BMC) has halted construction activities in Borivali East and Byculla due to poor air quality. Real estate developers are expressing dissatisfaction with the stop-work order.
MumbaiAir QualityConstructionBmcPollutionReal Estate MaharashtraDec 31, 2024
The BMC has halted construction work in Borivali East and Byculla due to the poor air quality. The Air Quality Index (AQI) in these areas has been inching closer to 'very poor' levels, necessitating the stop-work order as per the Graded Response Action Plan (GRAP-4).
The halt affects 286 out of 877 construction sites in the city.
Developers must present a dust-mitigation plan that includes covering construction sites with green cloth or jute, installing water sprinklers and misting systems, and setting up sensor-based monitoring systems, among other measures outlined in the 28-point guideline issued by the BMC.
The BMC has proposed long-term solutions under the Mumbai Air Pollution Mitigation Plan (MAPMP), which include shutting down illegal bakeries, transitioning legal bakeries to clean fuel, and purchasing electric buses for the BEST fleet.
Weather conditions, particularly westerly disturbances, play a significant role in Mumbai's air quality. They can cause fluctuations in the AQI and contribute to the haze and pollution. The wind can also help blow pollutants into the sea, leading to a drop in AQI to moderate levels.
The Real Estate Regulatory Authority (RERA), Gurugram, has imposed a hefty fine of Rs 5 crore on Vatika Limited for violating Section 3 (1) of the Real Estate (Regulation and Development) Act 2016.
Delhi-NCR's luxury housing market witnesses significant growth, driven by affluent buyers' preference for enhanced amenities and NRIs' investments.
Pune Metro witnesses a massive surge in ridership during Ganeshotsav, generating ₹3.05 crore revenue
Experts express doubts about the effectiveness of China's efforts to revive its struggling real estate market, citing challenges in stimulating consumer spending and addressing demographic issues.
Shriram Properties is set to launch a joint development project on a six-acre land in Pune during the second half of the fiscal year 2025. The project is estimated to have an aggregate revenue potential of Rs 700-750 crore.
Clifford Chance has advised Retail Opportunity Investments Corp (ROIC) on its strategic acquisition by Blackstone Real Estate Partners X, with the aggregate transaction value amounting to US$4 billion.