Realty101 Sector 1, Noida, Uttar Pradesh

NGT Bans Realty Projects near Okhla Bird Sanctuary Realty101 | Greater Noida is managed and controlled by greater New Okhla Industrial Development Authority (GNOIDA) and it is a hot spot for realty projects. The trending of this region is due to the rapid growth of industries, IT and ITES sector and the subsequent need for office space and residential space. Other factors also include a good transportation system and the development of Taj economic zone and the proposed Export Promotion zones, along the Yamuna Expressway. But the rampant growth of realty projects in Noida is affecting the natural habitat of the birds and animals of the Okhla bird sanctuary. The sanctuary is situated at the entrance of Noida in Gautam Budh Nagar district of Uttar Pradesh. It is situated at a point where river Yamuna enters in the state of Uttar Pradesh leaving the territory of Delhi and is roughly 4 square kilometres in size. It is a haven for over 320 bird species including dozens of migratory birds. Environmentalists and several residents of Noida, for the past two years, have been demanding that the 10-km area around the Okhla bird sanctuary to be declared as eco-sensitive. They also signed a petition demanding the judiciary’s intervention in protecting and conserving the Okhla Bird Sanctuary. The National Green Tribunal, established on 18.10.2010 under the National Green Tribunal Act 2010, ordered the Noida Authority to stop construction work of all projects which do not have requisite environmental clearances within 10km radius of Okhla bird sanctuary on 14th August. The Noida authority was also directed to conduct a fresh survey to find out the realty projects that are falling in the 10 km radius zone. The Noida authority was also ordered by the NGT to inspect the alleged constructions carried out by 53 builders along with any authorized person nominated by the person who has filed the case and the police. The National Green Tribunal further asked the case applicant to point out other buildings which are allegedly within the radius of 10 km from the Okhla Bird Sanctuary and the applicant should make a serious attempt to identify the names of such builders and apply for impleading them by the next date of hearing. The tribunal also added that in case there are certain construction works going on within 10 km radius of Okhla Bird Sanctuary without obtaining proper environmental clearance, the same shall be immediately stopped by making necessary panchanamas. The date of joint inspection will be settled after consulting with the counsel of both the applicant and the Noida Authority. The Authority has also been asked to file a counter-affidavit on the same within two weeks. On July 8, a petitioner filed a case in the National Green Tribunal warning that if the 10km radius is not declared protected, Okhla bird sanctuary would die a slow death. Last year, the Gautam Budh Nagar forest department issued notices to 53 builders whose realty projects were falling within the said radius for not taking the mandatory environmental clearance. The hearing before the tribunal was scheduled on July 11. The petitioner made the Noida Authority CEO, district magistrate, senior superintendent of police, ministry of environment & forests, the Uttar Pradesh chief secretary, principal secretary of Uttar Pradesh department of forests, principal secretary of UP irrigation department and national board of wildlife respondents in the case. On July 11, the NGT issued notices to the ministry of environment and forests, Noida Authority chairman & CEO and Uttar Pradesh chief secretary for failing to maintain the 10km radius around Okhla Bird Sanctuary under environment norms. On July 19, the NGT directed all the concerned authorities to file their replies on the matter by August 14. The counsel for the applicant, Gaurav Bansal said that the petitioner is demanding a ban on construction around Okhla bird sanctuary else the sanctuary will die a slow death. Environmentalists and several residents of Noida further alleged that because of the nexus between the local authorities and real estate developers, rampant construction work around the area was on. They are flouting environmental norms and putting the fate of the Okhla bird sanctuary in grave danger. The developers, in the meanwhile are saying that as they have bought land from Noida Authority, their interests should be protected by the agency. The buyers are troubled by the news and they are afraid that they will face the same fate as the investors of Noida Extension projects. – Realty101 Leave a Comment AUGUST 17, 2013 Real Estate Trends in NCR Real estate sector in India is growing in leaps and bounds with 30% growth rate every year. There is a rapid growth in the retail, commercial and residential sectors of India specifically in the metro cities like Delhi, NCR, Mumbai and Bangalore. Not only are the big sharks investing in real estate, the middle class Indians are also investing in land property. If you own a property, it can be your greatest asset and you can have a steady income from either renting or leasing your property. Small time investors need not shy away from investing in property as they can opt for real estate focused mutual funds. Greater Noida is managed and controlled by greater New Okhla Industrial Development Authority (GNOIDA) and is one of the fastest trending city in India. With the expansion of IT and ITES sector in Greater Noida, it is the current hot spot for real estate. Most companies are looking for office buildings and quarters for their employees which have raised the demand for property. You can lease your property for companies and earn huge returns. Also you can rent your property to others and have a passive flow of income. In the past few years, NCR has witnessed a rapid growth of industries. Industrialization provides employment to a large group of people and is also responsible for the growth and development of the city. This in turn increases the demand for industrial space and residential space and generates huge returns on investments. Also, the city has more to offer than companies and industries. Greater Noida is developed on 20,000 hectares of land with wide roads and underground cabling, the city is at par with international standards. It provides amenities like top class educational institutions, medical facilities, shopping centers and everything you can ask for. The excellent transport system links the city, located at approximately 18kms from Delhi to the rest of the country. Owing to the above mentioned points, the demand for commercial and residential property in Noida is increasing at a very rapid rate. The appreciation in property prices in Noida is 30% per year, hence ensuring large capital returns to the investors. The Yamuna Expressway has been declared as the best choice for investment because of its most probable chance for growth. The Taj Economic Zone and the proposed Export Promotion zones, along the Yamuna Expressway will further promote the economic growth in this area. Land development for residential and other commercial purposes will take place along the Yamuna Expressway and will provide the investors with great opportunities to invest in these projects. Greater Noida is brimming with plenty of opportunities for economic growth and development. The city can become a potential investment hub because of the different projects like Taj Economic Zone and Aviation hub. Thus, if you are looking for a good investment spot in real estate you should consider Greater Noida to receive good returns and even make a huge profit.