With respect to the environment impact assessment (EIA), the Environment Ministry is dabbling with the prospect of relaxing various green norms which is set to benefit the mining and infrastructure sectors. The EIA is carried out prior to giving development projects the final approval.
The Bombay High Court recently cancelled the coastal regulation zone (CRZ) clearances granted to the ambitious Rs 140-billion Mumbai Coastal Road Project, reasoning that there was serious lacuna in the decision-making process and lack of proper scientific study. The decision is likely to impact the order book of large construction players such as Larsen & Toubro (L&T) and HCC, who are involved in the construction of the project.
As reported, the areas in the vicinity of IT companies were the favourite spots for real estate developers. It was also reported that the State Environmental Impact Assessment Authority (SEIAA) of Telangana, approved about 71 big residential projects for Environmental Clearance (EC).
The proposed 9.89-km Bandra-Versova sea link has got an environmental nod. Although the clearance was given in October 2016, before the term of the state environment impact assessment authority (SEIAA) expired, it was issued only in February 2017, with MSRDC having complied with all the requirements, duw to which the issuance was delayed.