SC solid waste policy for Maharashtra reaction

Anuj Puri, Chairman – ANAROCK Property Consultants:

Rising pollution levels and frequent flooding in our cities – both historically and in the recent past – have caused concern among both environmentalists and lawmakers. To this backdrop, the Supreme Court’s stance of putting on hold the construction in the states that have not fully implemented waste management policy seems justified. Looking back at the top court’s past rulings related to environmental issues, it’s quite possible that construction in the concerned states might come to a halt until they implement their solid waste management policy, or at least provide a satisfactory road map for the implementation of the policy to the court. This move of the court will prove to be a major setback for the realty sector, which had only recently started to show some sign of revival. The impeding stay on construction will further push the delivery dates of ongoing projects. Projects worth Rs. 464,300 crore for a total of 575,900 units are already significantly behind schedule, and this stern stand of Supreme Court may add to this number.