JAIPUR: Surprisingly, most of the large and organized developers in the city supported the Rajasthan High Court order on Thursday against the proliferation of high-rise buildings in residential areas.
Taking into consideration inconveniences caused by multi-storey buildings to other residents in a locality, the court had asked the state government to frame policies to prevent such projects coming up in residential colonies.
“About 35% of real estate projects come from these areas. Many of these don’t offer basic and necessary facilities, including parking. Violation of norms related to vacant areas and the requirement of 30-ft road are rampant. But the government keeps fiddling with rules for regularizing these projects from time to time while creating modern slums in the process,” said Mishra.
After coming to power, the current political dispensation has continued with the ‘Prashasan Shehron Ke Sang’ campaign launched by the previous Ashok Gehlot government. During these campaigns, the government regularized many such projects by relaxing norms, while encouraging others to take up such construction.
N K Gupta, promoter of one of the oldest real estate companies in the city, said if the court order was implemented in letter and spirit, it would provide an impetus for orderly growth of the city and bring relief to the people.
“New supplies will drop by 10% if curbs on high-rise buildings in residential areas become effective. However, it will have no impact on property prices as there are a lot of variables that go into the valuation of a property,” added Gupta.
A majority of such projects are done by small builders though bigger developers too contribute to the volume. Even the draft guidelines of the Real Estate Regulatory Authority (RERA) do not address this segment. This is why the court order has become significant.
“RERA’s draft guidelines keep projects below 500 sq yards out its ambit. By taking up this segment, the court has taken a significant step. Hope the government understands the spirit of the court order and implements it,” added Mishra.
Credits ET Realty