Although there are no conclusive findings regarding health hazards caused by radiations emitted by mobile phone towers, Brihanmumbai Municipal Corporation (BMC) has gone ahead and banned installations of mobile phone towers on top of educational Institutions and Hospitals.
Indian Government has recently reduced the permissible radiation limit by tenth for mobile phone towers from 4500 milliwatts/sq. m to 450 milliwatts/sq. m, however BMC is playing it safe.
Going forward, Telecom Operators will now have to submit location certificates along with No Object Certificates (NOC) from the housing society of the building on which the mobile tower is expected to be installed. Only after submission of these documents will the operator get license to erect a mobile tower.
The health risks posed to people who are in vicinity of mobile towers has been a bone of contention for a long time. There has been no hard evidence showing that health gets affected due to mobile tower radiations.
According to Wikipedia, World Health Organization or WHO has classified mobile phone radiation on the IARC scale into Group 2B – possibly carcinogenic (cancer causing). That means that there "could be some risk" of carcinogenicity, so additional research into the long-term, heavy use of mobile phones needs to be conducted.
According to some experts, it is advised that a person should not use a cell phone for more than 18 to 24 minutes per day. Here is an excellent Slideshare presentation on Cell phone and mobile tower radiation hazards.
One thing is for sure, it is a step in right direction. All local governing bodies should have stringent regulations to curb unsafe and illegal erection of mobile phone towers.