According to industry experts, the emergency measures might help in controlling deteriorating air quality, but the economics behind this move may not inspire confidence in the realty sector
The real estate market, which was just getting back on track with demand booming after a near two-year gap, is now facing a new setback with deteriorating air quality in Delhi-National Capital Region (NCR). The Commission for Air Quality Management (CAQM) has come up with a revised Graded Response Action Plan (GRAP) ‘stage 1’ and has banned construction and demolition activities in the region.
If the pollution reaches severe levels, authorities will enforce a complete ban on construction and demolition activities in NCR, except on essential projects such as railways, metros, airports, ISBTs, national security/defence-related projects of national importance.
According to an Anarock research, more than 400,000 units are currently under various stages of construction in Delhi NCR, such as
First Published: Oct 18 2022 | 8:11 PM IST