SC's green clearance ruling recall could push ahead stalled projects

Move to give relief to thousands of homebuyers and developers

The Supreme Court’s recall of its May ruling on ex-post facto environmental clearances has eased the immediate threat of demolition of hundreds of real-estate projects, offering relief to homebuyers, developers, and lenders, say experts.

 

Several ongoing developments were facing the threat due to procedural lapses in securing environmental approvals. Projects can now undergo a proper environmental assessment rather than be halted.

 

According to Anuj Puri, chairperson, Anarock Group, over 490 projects stuck in limbo, impacting more than 70,000 housing units across the Mumbai Metropolitan Region (MMR) and Pune, are now eligible for regularisation.

 

These projects, collectively worth close to ₹30,000