NAREDCO welcomes high-rise building guidelines

National Real Estate Development Council (NAREDCO) has welcomed the new guidelines issued by the Union Ministry of Environment and Forest in respect of high-rise buildings. The guidelines would now allow greater flexibility for state governments and local bodies to decide on high-rise buildings, based on issues such as population density, pressure on land etc.  NAREDCO feels that the new guidelines will help in completion of stalled projects and encourage slum rehabilitation projects.
Welcoming the development, Sunil Mantri, Vice President, NAREDCO, said, “The new guidelines will help more than 100 projects to complete construction. Our estimate is that nearly Rs.10,000 crore have been blocked in such projects. Road width versus building’s height was the greatest challenge in congested cities like Mumbai where high-rise apartments are the only option available, irrespective of the road width.”

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