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Gurgaon residents worried over groundwater depletion

Comments Off Sub Category:Commercial Real estate,Court,Court Orders,Gurgaon,Realty News,Residential Real Estate Posted On: Jul 19, 2012

The Punjab and Haryana high court on Monday stopped issuing new licenses to developers in Gurgaon, because of the depleting groundwater situation, which has come as a relief to the residents in the area as they have been facing severe water crisis.

Most of the Gurgaon is dependent on groundwater and more than 60 MGD (million gallons daily) is being used by the builders for construction works daily which results in huge loss of water, said Rathi, president of Gurgaon citizen council.

The court order would certainly help in improving the groundwater situation, he added.

Residents have welcomed the court order, however, there was a mixed reaction from the real estate sector on the issue.

A real estate agent said the order will lead to panic among potential customers interested in high-rise buildings in the area as people don’t prefer to invest in controversial projects.

To read more real estate news:

Corruption to be blamed for high prices in Mumbai realty sector

Source: India Today

 

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