Buildings shorter than 15 m don’t need environmental nod

by Paul Joseph on March 24, 2013 · 0 comments

NEW DELHI: Faced with enormous delays in getting approvals, Value & Budget Housing Corporation is now adopting a strategy of developing smaller five-acre housing projects that do not require the environment ministry’s clearance, thus saving the company at least 12-18 months. Promoted by former Citibank executive Jaithirth (Jerry) Rao and PS Jayakumar , VBHC has also decided to cap the height of the buildings at 15 metres so that they don’t require Airports Authority of India (AAI) clearance either, saving further time. “Our biggest challenge has been getting approvals on time. It delays our execution and increases cost. We can do a five-acre project faster,” says Rao. The company’s first

[via India Properties – Real Estate India – Indian Property News Site]

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