If the Maharashtra government has its way, the real estate sector in Mumbai could adorn a green, nature-friendly look. Builders across the city have welcomed the state’s decision to allow only eco-friendly buildings from April 1. Builders adhering to the new guidelines will get a “zero net certificate” and will be granted additional FSI, chief minister Ashok Chavan announced last week. The real estate sector has welcomed the initiative with some even claiming that they have already implemented such measures. Even though the concept of eco-friendly housing is not new to Mumbai, the fact that the government wants to make it compulsory for every builder makes this a significant challenge. Ideally, eco-housing norms have to be formed keeping the size of the plot in mind. Builder say that there should be different norms for different types of plots. But will the green initiatives add the cost of housing? Experts say that the cost would increase even though marginally.
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