Before Investing in Property in Noida, know this fact
Noida is one of the most rapidly developing real estate markets in India both residentially as well as commercially. However, a lesser-known fact about property in Noida is the existence of the eco-sensitive zone (ESZ)-the Okhla Bird Sanctuary, which affects the development of numerous properties in Noida. The conflict regarding the presence of this ESZ and the developments in the surrounding areas has been going on for some time now. The fate of 30,000 property owners and over 25 projects in Noida is at stake.
According to the latest decision issued by the Supreme Court of India, the area of this ESZ (Okhla Bird Sanctuary) has been reduced from the standard 10 kilometer radius to 100 square meters in Noida. The development has come as relief to many property buyers, as the decision now exempts many housing projects from ESZ norms. The ESZ norms now apply to any projects falling within the 100 square meters radius around the Okhla Bird Sanctuary, which is considered as a no-development zone. It is also advised that no augmentation should take place in the range that pans across Noida and Delhi, as any construction in the area can wipe off the natural flora and fauna at any time.
As far as development of property or investment in Noida is concerned, leaving approximately 100 to 500 square meter of area vacant around the ESZ will be safer for both the buyers as well as the builders as the ESZ area can be extended at any point in future. Many of the existing protected areas have already registered high development rate in close proximity to their boundaries regardless of the government regulations. Therefore, defining the extent of the ESZs will have to be kept flexible while rigidly maintaining the boundaries of the protected areas.
However, following the general principle, the radius could go up to 10 kilometers keeping in mind the ongoing disputes concerning the issue. According to officials, the area up to DND flyover across the Yamuna river bed, in the Gautam Buddh Nagar, falls under the northern boundaries of the Okhla Bird Sanctuary.
This judgment has affected nearly 25 projects in Noida. Most of the projects of belong to major builders like Amrapali, Gulshan Homz, Logix, ATS, Jaypee, Supertech, Antriksh, Paramount and are located in Sectors 74, 75, 76, 122 and 137. Because of the declared eco-sensitive zone, the destiny of about 30,000 property owners in Noida hangs in balance.
It is suggested that buying a property in Noida in such disputed areas is averted to escape any litigations in future. Dearth of knowledge about laws regarding the ESZs can land both the parties in trouble. Because of the National Green Tribunal order forbidding authorities from registering properties around this ESZ (Okhla Bird Sanctuary) many projects in Noida remain unsold. Following the order, investors raised their voice over the delayed possession. Meanwhile, the Resident’s Welfare Association of Noida has decided to stand by the buyers in the struggle to get their flats through justice, revolting against both the Noida authority and property developers.