60% of stalled Kolkata realty projects may clear within days
Around 60 per cent of nearly 600 stalled real estate projects in Kolkata are expected to get clearance within days, and most of the rest by August 15, CREDAI West Bengal president…
The Story in Brief
Around 60 per cent of nearly 600 stalled real estate projects in Kolkata are expected to get clearance within days, and most of the rest by August 15, CREDAI West Bengal president Sushil Mohta said. The scrutiny was ordered by the Kolkata Municipal Corporation for buildings above four floors after a warehouse collapse at Taratala. Construction was suspended because approvals were issued under the previous TMC government.
About 330 projects have cleared the technical committee and await the high-level panel's nod, Mohta said after a CREDAI delegation met Chief Minister Suvendu Adhikari. He praised time-bound undertakings for minor deviations that let work resume. But around 120 projects have not submitted forms, and about two dozen may get notices and fail clearance. The civic body has not commented. The sector attracts Rs 20,000 crore investment annually and supports nearly 50 lakh livelihoods, CREDAI said.
The Indian Opinion
The push to clear stalled projects is welcome, but buyers should watch for corners being cut in the name of speed. Time-bound undertakings for minor deviations must not become a blanket waiver for structural safety after the Taratala collapse. The real test is whether the high-level committee independently checks each file, not just the technical team's nod. Watch how many of the two dozen flawed projects actually get rejected, and whether construction resumes with genuine compliance, not paper clearances.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
