Okhla Bird Sanctuary issue leaves owners of affected Noida property in limbo
With the National Green Tribunal (NGT) having banned construction work in the ecologically sensitive zone within the 10km periphery of the Okhla Bird Sanctuary, uncertainty surrounds the affected realty projects in Noida; and realty buyers and investors in the mentioned region are incurring losses on their investments.
The NGT’s order to stall construction in the vicinity of the Okhla Bird Sanctuary has affected realty projects in some of the prominent locations of Noida’s real estate market. These locations include Sectors 72, 73, 74, 75, 76, 78, 121, 128, 122, and 137.
The construction ban imposed by the NGT has left owners of Noida property in the mentioned sectors in a limbo because developers are not offering the possession of their completed projects to the buyers.
With the NGT having imposed the construction ban within the stipulated periphery of the Okhla Bird Sanctuary, even the Noida authority has no power to give completion certificates to the realty projects – which have been developed by private developers and builders – within the mentioned 10km radius of the sanctuary.
Though the issues resulting in the ban imposed by NGT are likely to be sorted out in the near future, the buyers – as of now – are not yet certain when the builders will give them the possession of their dream homes.
Source – The Times of India
Greater Noida, Greater Noida Authority, National Green Tribunal, NGT’s, Noida property, Okhla Bird Sanctuary, property in Noida
