The Okhla Bird Sanctuary, a home to several species of birds, was earlier declared protected within the distance of around 10 kms from the Sanctuary. Having a huge impact on several construction projects, it has greatly affected the buyers and investors who spent their hard earned money on these projects.
A large portion of land surrounding the Okhla bird sanctuary was declared a no-go zone where people were not allowed to enter the area within a specified range of limit. This, decision badly affected the builders and investors as their projects construction were stopped.
The recent notification regarding the revision of environmental guidelines in Noida has given a high sigh of relief to a number of investors and buyers. The eco-sensitive (ESZ) zone has now been reduced to 100 meters, and the decision has opened a gate for around 60,000 buyers who were not able to get a possession of their property since long.
The clearance of ESZ by National Board of life has now allowed the concerned developers and builders to obtain the completion certificates of their properties within a week. Though the delay in decision has greatly affected the construction schedule by around 48 months, the notification has given buyers a ray of hope which they can cherish by getting their properties back with them.
Though the draft notification proves beneficial for all the concerned residents, the eco-sensitive area doesn’t allow any commercial activity such as building resorts, hotels, or any other construction.
According to Mr. Anil Mithas, “This has been the most awaited move towards better real estate business as both buyers and investors has gained from the decision. Thus, this news is a big relief to several families who are finally allowed to claim their apartments and recover from the loss.
A large portion of land surrounding the Okhla bird sanctuary was declared a no-go zone where people were not allowed to enter the area within a specified range of limit. This, decision badly affected the builders and investors as their projects construction were stopped.
The recent notification regarding the revision of environmental guidelines in Noida has given a high sigh of relief to a number of investors and buyers. The eco-sensitive (ESZ) zone has now been reduced to 100 meters, and the decision has opened a gate for around 60,000 buyers who were not able to get a possession of their property since long.
The clearance of ESZ by National Board of life has now allowed the concerned developers and builders to obtain the completion certificates of their properties within a week. Though the delay in decision has greatly affected the construction schedule by around 48 months, the notification has given buyers a ray of hope which they can cherish by getting their properties back with them.
Though the draft notification proves beneficial for all the concerned residents, the eco-sensitive area doesn’t allow any commercial activity such as building resorts, hotels, or any other construction.
According to Mr. Anil Mithas, “This has been the most awaited move towards better real estate business as both buyers and investors has gained from the decision. Thus, this news is a big relief to several families who are finally allowed to claim their apartments and recover from the loss.