Rising A New Hope for the 50, 000 Home Buyers in Noida & Greater Noida
As confirmed by a source Central Government is going to shrink the area around the Okhla Bird Sanctuary, which is known as Eco Sensitive Zone, this will lead to giving the benefit to 50,000 home buyers.
A notification from environment ministry which is on hold from 2014 now has been passed, declare that the 100 meter area of eastern, western & southern periphery and 1.27 kilometers of northern periphery of Okhla Bird Sanctuary only will be the Eco Sensitive Zone. A final confirmation from the side of ministry will come within this week, consequently giving a great relief to home buyers of this region.
Actually, it is very good news for the buyers whose residence are ready to move in but unfortunately they are not able to take possession. On October 2013, NGT cancelled environmental clearance of 49 residential developments after it emerged that builders had taken the clearances on false grounds and passed an order of no construction zone within 10-km radius from the sanctuary's region.
Around one lakh units are at this time being constructed in this region, and this step of Central Government would send an optimistic signal to the Noida & Greater Noida Real Estate and increase the demand of residential property. It is a win-win situation for both investors and builders and finally help the realty market to rise.