  We derive Margolus-Levitin and Mandelstamm-Tamm type bound on the quantum
speed limit time for the creation and decay of quantum correlations by an
amount in a quantum system evolving under the influence of its ambient
environment. The minimum distance of a non-classical state from an appropriate
set of classical states is a legitimate measure of the quantumness of the
state. We consider entanglement and quantum discord measures of quantum
correlations, quantified using the Bures distance-based measure. To demonstrate
the impact of quantum noise on this speed limit time for quantum correlations,
we estimate the quantum speed limit time for the creation and decay of quantum
correlations for a two-qubit system under modified OUN dephasing and collective
two-qubit decoherence channels.
