India, Aug. 7 -- Although the Supreme Court on Tuesday restored the power of the State Environment Impact Assessment Authority (SEIAA) in all states to approve realty projects measuring over 20,000 square metres, providing much needed relief to developers, home buyers in Maharashtra are unlikely to benefit from the order, several developers told Hindustan Times.
In fact, prices of homes in 493 affected projects in the state, stalled due to the National Green Tribunal's direction in 2024 for centralised appraisal of large-scale construction projects, may rise by 7-8%, the developers said.
"Developers who had mobilised capital for launching projects were severely inconvenienced by the restriction, and had to wait for nearly a year till th...
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