The Supreme Court's stay order has put a halt to housing projects worth over Rs 30,000 crore in Pimpri, causing significant concern in the real estate industry. CREDAI-Pune Metro has strongly opposed the decision, highlighting the potential impact on the
Real EstateSupreme CourtPimpriCredaiDevelopment ProjectsReal EstateFeb 28, 2025
The Supreme Court's stay order is primarily due to environmental concerns. The region has been under scrutiny for rapid urbanization and the potential environmental impact of large-scale construction projects.
The housing projects on hold in Pimpri are worth over Rs 30,000 crore.
CREDAI-Pune Metro, a prominent real estate body, has strongly opposed the Supreme Court's stay order.
The stay order could have far-reaching economic repercussions, including financial losses for developers, project delays, and job losses for construction workers and suppliers.
The Supreme Court has indicated that it will hear the matter at the earliest. The court aims to find a balanced solution that addresses both environmental and economic concerns.
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