CREDAI expresses fears of delay in delivery of homes due construction ban order by NGT
Builders' body Confederation of Real Estate Developers' Associations of India (CREDAI) has expressed fears that the National Green Tribunal (NGT) ban of construction might create big hurdle in timely delivery of housing projects. It has requested NGT to reconsider complete ban on construction. The National Capital Region (NCR) chapter of CREDAI said all since projects require environment clearance and consent to establish (CTE) from the respective state pollution boards, a blanket withdrawal of all construction permissions punishes a large number of compliant real estate developers along with a few errant real estate developers. On the NGT order that directs builders to continue paying the construction labour for the period that construction is halted, CREDAI asked the government to bring all the costs, especially fixed time bound costs to government authorities like EDC, land payments, etc, under a 'zero period' for the period that construction is halted plus one month. "Errant developers should be brought to book. But compliant developers need to be compensated for the costs of this delay. We hope that the authorities and banks will exempt the developers for the costs of this period," said Bajaj.
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