Red tape over green: Over 800 projects stuck in Maharashtra

Oct 08 2013, 08:25 IST
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SummaryAn IT park in Pune Hinjewadi by Cognizant worth Rs 1,040 cr is among the projects which are stuck.

in all the real estate projects pending clearance is above Rs 1,25,000 crore. This is also affecting direct and indirect employment of about one lakh people. The state is anyway suffering slow growth and this is further affecting the industry,” said Lalit Kumar Jain, president of the Confederation of Real Estate Developers’ Associations of India.

Jain said the setting up of panels is not the only problem. “Even otherwise, there are projects pending for as long as two years. Once the committees are formed, they should sit on a daily basis and clear the backlog. Many times, they send the cases back for compliance. Instead, those measures should be listed as conditions and an approval should be given,” he said.

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