clearing proposals, the SEIAA has to give final approval. Some such projects include the Rs 630-crore revamp of Sir JJ Hospital, a residential project by Kalpataru Real Estate at Parel costing Rs 472.86 crore, and an IT park at Airoli by IGate Global Solutions costing Rs 375 crore.
“Collectively, the investment in all the real estate projects pending clearance is above Rs 1,25,000 crore. This is also affecting direct and indirect employment of about one lakh people. The state is anyway suffering slow growth and this is further affecting the industry,” said Lalit Kumar Jain, president of the Confederation of Real Estate Developers’ Associations of India.
Jain said the setting up of panels is not the only problem. “Even otherwise, there are projects pending for as long as two years. Once the committees are formed, they should sit on a daily basis and clear the backlog. Many times, they send the cases back for compliance. Instead, those measures should be listed as conditions and an approval should be given,” he said.