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Economic Times
6 days ago
- Business
- Economic Times
SC clears regulatory logjam, paving way for revival of 493 stalled housing projects in Mumbai, Pune
Thousands of homebuyers across the Mumbai Metropolitan Region (MMR) and Pune can finally expect delivery of long-delayed homes, as the Supreme Court has cleared a key regulatory roadblock that had stalled approvals for hundreds of residential projects. ADVERTISEMENT The ruling paves the way for construction to resume on 493 stalled developments largely in the affordable and mid-income categories, helping momentum in two of the country's most active housing markets. The apex court, in its judgment on Vanashakti vs Union of India, reaffirmed that the State Environment Impact Assessment Authority (SEIAA) and State Expert Appraisal Committee (SEAC) are the appropriate authorities for granting project-level environmental approvals in Maharashtra. The decision settles a jurisdictional conflict triggered by certain central government notifications issued in 2014 and 2016. 'This is a monumental relief for Maharashtra's real estate sector,' said Domnic Romell, president, CREDAI-MCHI, which had approached the court on the matter. 'We initiated this petition to bring clarity to an increasingly ambiguous clearance process, and the Supreme Court has now provided much-needed certainty.'The verdict addresses long-standing uncertainty around environmental clearances that had delayed project approvals and disrupted construction timelines. With clarity now restored, developers are expected to resume work on these projects, unlocking over 70,000 housing units and offering long-awaited relief to affected homebuyers. 'The judgment will not only revive the 493 stalled projects and fasten the delayed supply but also restores homebuyer confidence, introduces liquidity into the market, and restores economic activity across allied industries. Above all, it also underlines a progressive vision where environmental compliance is not diluted but seamlessly combined with development goals,' said Chintan Sheth, CMD, Sheth Realty. ADVERTISEMENT According to him, the balanced approach between sustainability and speed will set an example for future urban growth, allowing on-time deliveries while upholding responsibility towards the Supreme Court struck down Clause 14(a) and Appendix 16 of these notifications, which had proposed the creation of Environmental Cells under local planning authorities to issue clearances. Developers had flagged this framework as inconsistent with the existing SEIAA-SEAC process, raising concerns about delays, overlaps, and confusion. ADVERTISEMENT The court also dismissed the notion of differential treatment for industrial sheds and educational buildings under the Environment (Protection) Act, 1986, reinforcing the need for uniformity in environmental regulation across all project the regulatory framework now clarified, developers are expected to move quickly to secure approvals and resume stalled work, particularly in high-demand locations across MMR and Pune. The ruling is seen as a timely intervention that will ease supply-side pressures and restore confidence among homebuyers and stakeholders in the state's key urban centres. ADVERTISEMENT (You can now subscribe to our Economic Times WhatsApp channel)
Economic Times
6 days ago
- Business
- Economic Times
SC's environmental nod clarity to revive 493 stalled projects, bring relief to homebuyers
The Supreme Court's decision has cleared a major hurdle for 493 stalled housing projects in Mumbai and Pune, paving the way for construction to resume. This ruling reaffirms the authority of SEIAA and SEAC for environmental approvals, resolving jurisdictional conflicts. It is expected to unlock over 70,000 housing units, boost the real estate sector, and restore confidence among homebuyers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Thousands of homebuyers across the Mumbai Metropolitan Region (MMR) and Pune can finally expect delivery of long-delayed homes, as the Supreme Court has cleared a key regulatory roadblock that had stalled approvals for hundreds of residential ruling paves the way for construction to resume on 493 stalled developments largely in the affordable and mid-income categories, helping momentum in two of the country's most active housing apex court, in its judgment on Vanashakti vs Union of India, reaffirmed that the State Environment Impact Assessment Authority (SEIAA) and State Expert Appraisal Committee (SEAC) are the appropriate authorities for granting project-level environmental approvals in Maharashtra. The decision settles a jurisdictional conflict triggered by certain central government notifications issued in 2014 and 2016.'This is a monumental relief for Maharashtra's real estate sector,' said Domnic Romell, president, CREDAI-MCHI, which had approached the court on the matter. 'We initiated this petition to bring clarity to an increasingly ambiguous clearance process, and the Supreme Court has now provided much-needed certainty.'The verdict addresses long-standing uncertainty around environmental clearances that had delayed project approvals and disrupted construction timelines. With clarity now restored, developers are expected to resume work on these projects, unlocking over 70,000 housing units and offering long-awaited relief to affected homebuyers.'The judgment will not only revive the 493 stalled projects and fasten the delayed supply but also restores homebuyer confidence, introduces liquidity into the market, and restores economic activity across allied industries. Above all, it also underlines a progressive vision where environmental compliance is not diluted but seamlessly combined with development goals,' said Chintan Sheth, CMD, Sheth to him, the balanced approach between sustainability and speed will set an example for future urban growth, allowing on-time deliveries while upholding responsibility towards the Supreme Court struck down Clause 14(a) and Appendix 16 of these notifications, which had proposed the creation of Environmental Cells under local planning authorities to issue clearances. Developers had flagged this framework as inconsistent with the existing SEIAA-SEAC process, raising concerns about delays, overlaps, and court also dismissed the notion of differential treatment for industrial sheds and educational buildings under the Environment (Protection) Act, 1986, reinforcing the need for uniformity in environmental regulation across all project the regulatory framework now clarified, developers are expected to move quickly to secure approvals and resume stalled work, particularly in high-demand locations across MMR and Pune. The ruling is seen as a timely intervention that will ease supply-side pressures and restore confidence among homebuyers and stakeholders in the state's key urban centres.
Time of India
6 days ago
- Business
- Time of India
SC's environmental nod clarity to revive 493 stalled projects, bring relief to homebuyers
Thousands of homebuyers across the Mumbai Metropolitan Region (MMR) and Pune can finally expect delivery of long-delayed homes, as the Supreme Court has cleared a key regulatory roadblock that had stalled approvals for hundreds of residential projects. The ruling paves the way for construction to resume on 493 stalled developments largely in the affordable and mid-income categories, helping momentum in two of the country's most active housing markets. The apex court, in its judgment on Vanashakti vs Union of India, reaffirmed that the State Environment Impact Assessment Authority (SEIAA) and State Expert Appraisal Committee (SEAC) are the appropriate authorities for granting project-level environmental approvals in Maharashtra. The decision settles a jurisdictional conflict triggered by certain central government notifications issued in 2014 and 2016. 'This is a monumental relief for Maharashtra's real estate sector,' said Domnic Romell, president, CREDAI-MCHI, which had approached the court on the matter. 'We initiated this petition to bring clarity to an increasingly ambiguous clearance process, and the Supreme Court has now provided much-needed certainty.' The verdict addresses long-standing uncertainty around environmental clearances that had delayed project approvals and disrupted construction timelines. With clarity now restored, developers are expected to resume work on these projects, unlocking over 70,000 housing units and offering long-awaited relief to affected homebuyers. 'The judgment will not only revive the 493 stalled projects and fasten the delayed supply but also restores homebuyer confidence, introduces liquidity into the market, and restores economic activity across allied industries. Above all, it also underlines a progressive vision where environmental compliance is not diluted but seamlessly combined with development goals,' said Chintan Sheth, CMD, Sheth Realty. According to him, the balanced approach between sustainability and speed will set an example for future urban growth, allowing on-time deliveries while upholding responsibility towards the environment. The Supreme Court struck down Clause 14(a) and Appendix 16 of these notifications, which had proposed the creation of Environmental Cells under local planning authorities to issue clearances. Developers had flagged this framework as inconsistent with the existing SEIAA-SEAC process, raising concerns about delays, overlaps, and confusion. The court also dismissed the notion of differential treatment for industrial sheds and educational buildings under the Environment (Protection) Act, 1986, reinforcing the need for uniformity in environmental regulation across all project types. With the regulatory framework now clarified, developers are expected to move quickly to secure approvals and resume stalled work, particularly in high-demand locations across MMR and Pune. The ruling is seen as a timely intervention that will ease supply-side pressures and restore confidence among homebuyers and stakeholders in the state's key urban centres.
Hindustan Times
7 days ago
- Business
- Hindustan Times
Supreme Court order on green clearance paves way for 493 stalled real estate projects in Mumbai and Pune: CREDAI-MCHI
In a major victory for 493 stalled real estate projects across the Mumbai Metropolitan Region (MMR) and Pune, the Supreme Court (SC) on August 5 disposed of writ petition of Vanshakti NGO vs Union of India, and reaffirmed that the State Environment Impact Assessment Authority (SEIAA) and State Expert Appraisal Committee (SEAC) shall continue to remain the competent authorities for project-level environmental assessments. The Supreme Court judgment removes regulatory ambiguity that had severely impacted project approvals, construction timelines, and homebuyer confidence, CREDAI-MCHI said in a statement (Representational photo)(Pexels) In its ruling, the SC reaffirmed that the State Environment Impact Assessment Authority (SEIAA) and the State Expert Appraisal Committee (SEAC) would remain the competent authorities for conducting project-level environmental assessments, allowing state agencies to continue overseeing environmental clearances. "This landmark ruling brings long-awaited relief to over 493 projects stalled in the Mumbai Metropolitan Region (MMR) and Pune, affecting more than 70,000 housing units, particularly in the affordable and mid-income segments. The judgment removes regulatory ambiguity that had severely impacted project approvals, construction timelines, and homebuyer confidence," CREDAI-MCHI said in a statement. Also Read: Over 70,000 housing units stalled across MMR amid green clearance hurdle According to the statement, the SC has also struck down key portions of the 2014 and 2016 notifications, specifically Clause 14(a) and Appendix 16, that had sought to introduce an Environmental Cell under local authorities, a move that would have led to confusion and potential overlaps in jurisdiction. Additionally, the court rejected the differential regulatory treatment for industrial sheds and educational buildings under the Environment (Protection) Act, 1986, underscoring the need for uniformity in environmental regulation, the statement said. Also Read: SC upholds environment ministry notification, junks exemption clause for big projects Domnic Romell, president, CREDAI-MCHI, said, 'This judgment is a direct result of CREDAI-MCHI's proactive legal intervention to protect the interests of our members and the thousands of homebuyers impacted by stalled projects. We initiated this petition to bring clarity to an increasingly complex and ambiguous environmental clearance process, and we are grateful that the Hon'ble Supreme Court has upheld the role of SEIAA and SEAC as competent authorities." Also Read: Over 25,000 buildings in Mumbai Metropolitan Region eligible for redevelopment with ₹30,000 cr value: CREDAI-MCHI According to CREDAI-MCHI's statement, the official order from the SC is awaited.
