Now, 55,000 buyers can occupy their Noida flats soon

Now, 55,000 buyers can occupy their Noida flats soon

The Union environment ministry's notification says that the eco-sensitive zone around the Okhla Bird Sanctuary has been reduced.

  • New Delhi,  August 19, 2015  
  • |  
  • UPDATED   15:01 IST
Real estate to benefit as green lines redrawn in Okhla
(Pic for representation purpose only. Source: Reuters)

As many as 55,000 home buyers will benefit from the central government's move on Tuesday to reduce the area of the eco-sensitive zone (ESZ) around the Okhla Bird Sanctuary, leading real estate developers said.

The Union environment ministry's notification in 2014 that has now been cleared says that the ESZ will be the area up to 100 metres from the eastern, western and southern boundary and up to 1.27 kilometres from the northern boundary of the Okhla Bird Sanctuary. The ministry will come out with a final notification within a week, thus giving relief to home buyers in and around the area.

Once the notification is issued, the government will allow the home buyers outside the ESZ to get occupancy certificates of their flats. This had been pending for quite some time as the National Green Tribunal (NGT) had passed an order barring development of any infrastructure within 10-km radius from the sanctuary's boundary. "It's very good news for 55,000 buyers whose homes were ready but they could not occupy it," CREDAI President Getamber Anand said when asked about his reaction on the government's decision.

He said about one lakh homes are currently being developed in this region. The development would send a positive signal to Noida-Greater Noida property market and boost housing demand. Commenting on the same, Supertech Ltd Chairman RK Arora said, "The MoEF decision to notify certain areas as eco-sensitive zone around Okhla Bird Sanctuary is a welcome move. The decision will enable the allottees of flats in completed projects to get possession and developers to complete the projects."

The notification will also boost the sentiments of buyers which will "ultimately help the real estate market to boom", he added. The announcement by Union Environment Minister Prakash Javadekar came on a day the NGT directed the Ministry of Environment and Forests (MoEF) to issue within three weeks the final notification on ESZ around the sanctuary.

Javadekar, after chairing the meeting of the National Board of Wildlife (NBWL), said, "We (ministry) had to come up with a justifiable demarcation (after the NGT order). After completing all those exercises, a draft notification was issued. Within 60 days, there was no major it was ready. But the final notification was not done because NGT had said it specifically needed the consultation of NBWL for this case. We did the consultation today. The ESZ whose draft notification was done (earlier) after due diligence has been found to be correct..."