PRZOOM - /newswire/ -
Mumbai, Maharashtra, India, 2012/03/05 - Real estate and Infrastructure major, Hindustan Construction Company (HCC) is likely to put on hold its earlier plan to develop a ‘Lavasa like city’ across India, a senior company official said - Infrawindow.com.
The company earlier expressed its concerns over developing similar cities in the states of Gujarat and Kerala, among other places.
“At present, we are only focusing on to develop Lavasa city on time. Later we will concentrate on our proposed plan as land acquisition and environmental clearance is become a big issue these days,” the official told Infrawindow.
HCC’s Lavasa project is a sprawling hillside development in western India. Issues with the Ministry of Environment and Forests (MoEF) have stopped the hill-side project for almost two months.
In November last year, the Union Environment Ministry in its decision has cleared HCC’s much delayed Lavasa hillside real estate project, being built with an investment of Rs 1.6 lakh crore ($31 billion). The ministry, however, attached a rider that the developer must get the green signal from the state pollution board, besides adhering to various other norms for the completion of the mega housing project.
HCC has agreed to meet the preconditions including a commitment of not repeating environmental violations, a revision of the development areas, strictly conforming to the town planning norms and the creation of an environmental restoration fund.
To develop a Lavasa-like city in Dholera in Gujarat, the company said in its earlier statement, a host of other companies will be roped in. "We will partner with a lot of companies for the city in Gujarat, just as we have done in Lavasa. They will bring in investment also," it said.
The company also signed a MoU with the Gujarat government for creation of a 4,000 acre 'Water Front City' in Dholera near Ahmedabad.