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Mining Ban May Help Realty ,Builders Hope Greenery, Better Ambience Will Boost Mkt


By ugesh sarkar, Section Gurgaon News
Posted on Sun May 10, 2009 at 12:28:10 AM EST

Contrary to the general perception, the Supreme Court's judgment to ban mining in the Aravali range in Haryana will help real estate developers in the region.

Avaneesh Sood, director of Eros group, the developer of the largest project -- Charmwood township -- in the area, said the judgment would not affect construction activities in the area. Instead, he said, it would help improve the environment, landscape and ambiance of the area, which would catapult the area into an upmarket region in NCR.

Rohtas Goel, the CMD of Omaxe -- another group that has launched a couple of projects in the region -- also felt the court judgment will help improve the habitation and greenery in the area making it even more attractive. The ban will also help recharge the area's groundwater. And even a small prospect of reviving the Badkhal lake and other water bodies, for which the area was famous till a few years ago, will push the real estate prices.

On Friday, SC had imposed a blanket ban on mining in the Aravali range. The ban primarily affects development on the Surajkund Road and Faridabad-Gurgaon Road. There were apprehensions that the judgment will affect construction activities in the area. But, a close look at the judgment allayed any such apprehensions. However, a number of projects are on hold because of the government's insistence on not allowing the misuse of forestland.

Developers said illegal mining proved to be a big menace in the area and ruined the entire landscape of the region. Sood said his group entered the region with housing projects because of the landscape and the water bodies -- which used to be the unique selling point (USP) of the area. However, the area was degraded because of the unbridled mining. The main attraction of the region, Badkhal lake, almost dried up.

On the issue of easy availability of construction material like stone from the area due to mining, developers said they did not source any material from the local stone-crushers, but from Rajasthan. Even infrastructure developers like GMR said they sourced material from Rajasthan. ``Therefore, the ban on mining will not push the cost of the implementation of a project,'' said a senior GMR official.

Source: Times Of India Mining ban may help realty,Builders Hope Greenery, Better Ambience Will Boost Mkt

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