Greater Noida Builders Face Potential 1% Project Cost Penalty for Water Extraction
Real Estate

Greater Noida Builders Face Potential 1% Project Cost Penalty for Water Extraction

In Greater Noida, over 35 builders are facing the possibility of paying a penalty equivalent to 1% of their project costs for unauthorised water extraction. This development underscores significant environmental compliance issues within the region's booming real estate sector.

The penalty imposition follows a directive from the Greater Noida Industrial Development Authority (GNIDA), aimed at curbing illegal water extraction and promoting sustainable water management practices. Builders found extracting water without requisite permissions risk facing financial penalties as part of efforts to preserve groundwater resources and ensure environmental sustainability.

Greater Noida's real estate market, known for its rapid urbanisation and infrastructural growth, faces increasing scrutiny over environmental impact and adherence to regulatory norms. The GNIDA's stringent measures signal a proactive approach towards enforcing environmental regulations and fostering responsible development practices among builders and developers.

Builders implicated in the water extraction controversy are urged to comply with regulatory requirements and obtain necessary permissions to mitigate environmental risks and legal repercussions. The enforcement of penalties serves as a deterrent against unauthorised resource utilisation and underscores the authorities' commitment to sustainable development in Greater Noida.

Overall, the imposition of penalties on builders for unauthorised water extraction reflects ongoing efforts to balance urban development with environmental conservation goals in Greater Noida. It underscores the imperative for builders to adopt eco-friendly practices and align with regulatory frameworks to ensure long-term sustainability and resilience in the real estate sector.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

In Greater Noida, over 35 builders are facing the possibility of paying a penalty equivalent to 1% of their project costs for unauthorised water extraction. This development underscores significant environmental compliance issues within the region's booming real estate sector. The penalty imposition follows a directive from the Greater Noida Industrial Development Authority (GNIDA), aimed at curbing illegal water extraction and promoting sustainable water management practices. Builders found extracting water without requisite permissions risk facing financial penalties as part of efforts to preserve groundwater resources and ensure environmental sustainability. Greater Noida's real estate market, known for its rapid urbanisation and infrastructural growth, faces increasing scrutiny over environmental impact and adherence to regulatory norms. The GNIDA's stringent measures signal a proactive approach towards enforcing environmental regulations and fostering responsible development practices among builders and developers. Builders implicated in the water extraction controversy are urged to comply with regulatory requirements and obtain necessary permissions to mitigate environmental risks and legal repercussions. The enforcement of penalties serves as a deterrent against unauthorised resource utilisation and underscores the authorities' commitment to sustainable development in Greater Noida. Overall, the imposition of penalties on builders for unauthorised water extraction reflects ongoing efforts to balance urban development with environmental conservation goals in Greater Noida. It underscores the imperative for builders to adopt eco-friendly practices and align with regulatory frameworks to ensure long-term sustainability and resilience in the real estate sector.

Next Story
Real Estate

Singapore's CapitaLand Plans Major India Expansion

CapitaLand Investment Limited (CLI), one of Singapore's largest real estate investment managers, has announced plans to significantly expand its investments in India. The company aims to more than double its India portfolio by 2028, signaling its confidence in the country?s burgeoning real estate market. Current Portfolio and Growth Target: CLI currently manages assets worth USD 3.3 billion in India. With its sights set on future growth, the company is targeting a dramatic increase in its India investment kitty to over USD 7 billion by 2028. This move comes as part of a broader strategy to ca..

Next Story
Infrastructure Transport

Air India MRO Facility Key Hub

Air India has launched a state-of-the-art Maintenance, Repair, and Overhaul (MRO) facility at Bengaluru Airport City, establishing a crucial hub for aircraft servicing in India?s burgeoning aviation sector. This new MRO facility aims to enhance Air India?s operational capabilities, improve turnaround times for aircraft maintenance, and reduce reliance on overseas servicing. Strategic Importance of Bengaluru: The facility, located at the Kempegowda International Airport (KIA) in Bengaluru, is strategically positioned to serve as a critical aviation hub. Bengaluru is a key center for both domest..

Next Story
Infrastructure Transport

BMC Notifies Properties for Water Tunnel

The Brihanmumbai Municipal Corporation (BMC) has initiated a crucial step in Mumbai's infrastructure development by notifying several properties for its ambitious underground water tunnel project. This project aims to bolster the city's water supply system, ensuring a more reliable and efficient distribution network. Project Overview: The underground water tunnel project is designed to address Mumbai's increasing demand for water by creating a robust network of tunnels deep below the surface. This tunnel system will transport water from reservoirs directly to various parts of the city, signif..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000