According to the news sources the issue of no-development zone around the Okhla Bird Sanctuary has now been resolved and very soon there would be a notification issued in this regard. With this the doubts of the investors and buyers would be cleared. Here are the highlights of the decision and its anticipated impacts:
• The environment ministry has decided that no development can be made within a radius of up to 100 meters around the Okhla Bird Sanctuary, except in the north direction towards the Noida Toll Bridge along the Yamuna.
• Regions up to 1 km along Yamuna will be barred from any development. But, this would not have any material impact on the existing area that is under development.
• The sectors that are likely to get affected are 94, 95, 96, 97, 100, 101, 110, 107, 137, 142, 143, 150, and 168.
• During the hearing CREDAI had requested the NGT that the projects beyond 100 meters, as proposed by the U.P. government, should be allowed to carry out construction, provided they obtained environmental clearance.
• A draft notification by the central government, that is likely to come around the festival season, would act as a catalyst to increase the real estate activities in the region.
This order shall bring a huge relief to the buyers who had been apprehensive about their investment status in the projects under scanner. With festive season round the corner, this order is just a cherry on the cake for hundreds of homebuyers.
This news has made our investors and buyers more confident about their investment with us, which would soar in the coming future. Mr. C. J. Singh, Senior Vice President, Sales and Marketing, Wave City Center says, “This news is heartening for us and our investors. This adds more vigor to the upcoming festival season. The investor shall have no doubt and would see a rise in the coming times.”
Source: Times of India