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Real Estate

Karnataka government's plan of ban on housing construction a kneejerk reaction, says Anarock

Updated : June 28, 2019 02:53 PM IST

The Karnataka government considering a five-year ban on the construction of apartments in Bengaluru due to the water crisis is a kneejerk reaction and would put a lot of realty activities in jeopardy, said Prashant Thakur, head of Research at Anarock.

“This is still at a very nascent stage and in my opinion this would be a kneejerk reaction to tackle the water crisis that the government has given as a reason or rationale behind this ban," Thakur said in an interview with CNBC-TV18.

“In Chennai there was a ban on construction mining which led to a pause in construction activity but a blanket ban of 5 years on all the construction activities of the residential apartment has never happened in India,” he added.

He, however, said that even if it is implemented, it will not impact the under construction projects as the ban would only cover the new projects.
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