Government to Boost up Affordable Housing by Altering Green Norms

With the Housing for All policy of the government getting a massive response from the homeowners, the green norms may be revised to ease up affordable housing in the country. The government has come up with a number of policies in the last couple of years to leverage the real estate industry. The authorities have proposed to integrate a new set of rules, where green norms need not be implemented for real estate projects of size up to 50,000 Sq. Ft. These projects will not require the ‘environmental clearance’, according to the proposed norms.

Last week, a draft notification had been used by the environment ministry. Here, the area was increased from 20,000 Sq. Ft. to 50,000 Sq.Ft. This is a major boost to the industry. The concept of green housing has penetrated deep into the housing sector in the last decade, where the developers had to comply with the guidelines of the authorities, regarding the environmental concerns. According to the proposed set of guidelines, the environmental conditions need to be fulfilled by the projects through certification and self-declaration. Besides, they need to approach the local authorities and seek the permission for construction. These strategies are likely to boost up the affordable housing policy of the government.

The government has put forward an argument, that this move will streamline the permissions for the construction and building sector, in order to fulfil the goal. The key objective is to make real estate affordable to the weaker segments of the economy. Environmentalists are of the opinion, hat the developers may misuse the advantage in developing multiplexes and shopping malls. The draft notification brings certain advantages to the real estate developers, but in turn, will cause a damage to the environment in the urban areas. It will allow them to develop the structures, flouting the existing norms, that is likely to harm the environment. The condition of Real Estate in India is evolving. The government has come up with a number of policies to ensure transparency in the industry. However, it is important to consider the environmental issues.

The ministry has appealed in the Supreme Court against this order. Now, it has come up with a fresh proposal for increasing the area of the projects to 50,000 Sq.Ft. from 20,000 Sq.Ft. The green cover in the country is being affected due to rapid urbanization. The environmental bodies are reluctant to compromise, in order to favour affordable housing. Investments in Real Estate India are increasing over the years. With the announcement of the affordable housing strategy, the investments in the industry are likely to rise further. However, keeping the environmental issues at the forefront, it is important to focus on the norms that adhere the developers to comply to the guidelines, ensuring environmental safety.

In case you are looking forward to buy property in India, you can have a look at the upcoming residential complexes in the key cities in the country. The reputed developers are coming up with sophisticated homes in the big cities. You can also go for the affordable homes, that will bring you a good balance of luxury and comfort.