20 road projs worth Rs 27,000 cr to be executed soon
The nod would result in fast-tracking stalled projects in the highways sector
May 24, 2013
Source : Business Standard

 

DELHI: Government's approval to delink environment clearance from forest nod has paved the way for launch of 20 stalled road projects involving investment of Rs 27,000 crore.

 

The Cabinet Committee on Infrastructure (CCI) yesterday announced that major bottlenecks impeding the growth of highways sector, including de-linking environment clearance from forest nod, have been cleared.

 

"The CCI nod to delink both the clearances has come as a major relief to the Ministry which is facing problems in award of projects and is a welcome step," a Road Transport and Highways Ministry official said.

 

The nod would result in fast-tracking stalled projects in the highways sector including 20 projects entailing investment of Rs 27,000 crore, stuck for long for want of environment clearances, the official said.

 

The Supreme Court in March had allowed modification in norms to delink environment clearance from forest and now, the official said, a road project can start work once it gets environment approval.

 

Earlier, forest clearance was mandatory before start of work on stretches falling in forest and non-forest areas.

 

Apart from this the issues resolved include grant of "Special Exemption or No Objection Certificate under Forest Rights Act, 2006" for strengthening and widening of National Highways projects, specifically pertaining to diversion of protected forest land under the Forest Conservation Act, 1980.

 

Other major issues include "treating the strengthening and widening of national highways infrastructure projects differently from new projects and allowing construction of national highways in non-forest areas, as expenditure does not become infructuous in such projects."

 

The CCI also gave nod to enhance the ceiling of 4,000 km of four laning in NHDP Phase-IV to 8,000 km on Build, Operate and Transfer (BOT) (Toll) mode, based on the traffic justification according to the Indian Road Congress code.

 

The government also announced that 4,000 km of road projects were permitted to be taken up for upgradation this mode in 2012-13 and in case of Public-Private Partnership (PPP) projects, it has been decided that the debts due to the lenders will be considered as "secured" loan.

 

The highways sector has been battling problems like equity crunch, delays in clearances and land acquisition besides major players abandoning projects mid-way.

 

Earlier GVK Power and Infrastructure had announced termination of its contract with NHAI for building Rs 7,500 crore major highway Shivpuri-Dewas Expressway in Madhya Pradesh. Another firm GMR Infrastructure had cancelled its contract with the authority for building the Kishangarh-Udaipur- Ahmedabad highway.

 

The Ministry has set an internal target of awarding 9,000 km of projects in 2013-14 to ensure award of at least 7,300 km to revive the sector against the backdrop of a dismal show last year when award of road projects declined to 1,933 km -- much below the target of 9,500 km.

Latest Realty News

Reliance Property enters Kerala real estate market, signs MoU with Dewa Group
May 24, 2013
KOCHI: Reliance Property Solutions has entered the Kerala real estate market by signing an MoU with the Dewa Group to jointly market 'Dewa Pier 20' located here.
Developers gear up to tap ECB route for affordable housing
May 23, 2013
Those looking to buy a house with a modest budget have some reason to cheer.Several developers are planning to tap the External Commercial Borrowings (ECB) route to provide affordable houses.
RBS launches real estate services for HNIs
May 23, 2013
RBS Financial Services, a part the Royal Bank of Scotland Group, has announced the launch of Real Estate Services (RES) in India. This new initiative follows on from the launch of Wealth Planning, which was introduced last year.
Re 1 rent for 1,672 square metres in Matunga
May 23, 2013
In 1873, K S Thakkar and four others were given 2,350 square metres of land in Mazgaon for next to nothing. The lease rent was Rs 1.53 a year. The lease expired in 1972, but the collector has not bothered to renew it and meekly collects the rent set 140 years ago
Twin benefits: Save and prepay home loan
May 20, 2013
Usually, a home loan is one of the biggest liabilities. Considering the huge amount and the long tenure involved, it is advisable to repay the loan at the earliest. And, as both the Reserve Bank of India and the National Housing Bank have abolished the penalty on prepayment of home loans (for floating rate loans), it is sensible to prepay your home loan and save on interest.
Delhi to get tout-free, seamless property registration system
May 20, 2013
DELHI : In a major revamp of existing property registration system, Delhi Government will put in place a transparent mechanism by end of the year under which people will be able to access hassle-free services in all 13 sub-registrar offices without any jurisdictional issue.
Pocket-friendly homes for all
Apr 10, 2013
BHUBANESWAR: The state government is all set to create 5,000 affordable housing units in the city soon by involving private developers, housing and urban development (H&UD) secretary Injeti Srinivas said here on Tuesday.
DFID set to foray into the sector
Apr 10, 2013
Department for International Development (DFID), UK’s funding agency, is all set to foray into affordable housing sector with funding commitment of Rs. 400 crore in the country.
Affordable housing on top of Credai agenda
Apr 09, 2013
The Confederation of Real Estate Developers Associations Of India (Credai), an apex body of real estate developers with over 10,000 members across 20 State, plans to focus on affordable housing, green buildings, water harvesting and skill development programer among construction workers.
Realtors under Sebi scanner for fraudulent investment schemes
Mar 24, 2013
NEW DELHI: Suspecting investor frauds in the projects being launched by numerous real estate developers, capital markets regulator Sebi is probing them for possible violations of Collective Investment Scheme regulations.

Latest Realty News Of State

Realty Talk's