National Green Tribunal order delays Noida flats
Jun 06, 2014
Source : The Times of India


DELHI: Almost 20,000 homebuyers in Noida face a delay in receiving possession of their completed apartment . This is due to a recent judgment by National Green Tribunal, which prohibits Noida Authority from giving any completion certificate for projects within a 10km radius of Okhla Bird Sanctuary.

Another 30,000 apartments in the area are nearing completion over the next year. But, due to the judgment, builders are now going slow on their projects, developers’ body Credai NCR president Rohit Raj Modi told TOI.

The delay in securing the completion certificate is causing hardship to buyers, Modi said. Most of these projects were launched in Sector 74, 75, 76, 122 and 137 among others. They include projects of major builders like Amrapali, Jaypee, Logix, Gulshan Homz, Antriksh, ATS, Paramount and Supertech. In all, 25 projects are affected by the judgment.

Interestingly, all 25 projects have already got environmental clearance. Getamber Anand of ATS said builders had no idea of any such problem in the area when they began their projects. Shiv Priya, executive director of Amrapali, which has 3,000 apartments ready to be handed over to buyers, said, “Most buyers want to take possession during May-June, when they can change the school of their children. We also plan delivery for this period. But, this time, despite completing the delivery cannot be given.”

To make matters worse for builders, they will have to maintain all the apartments without charging any money from the buyers. As most of these projects were launched and sold around four years ago, most of the buyers have been paying EMI since then.

On October 28, 2013, NGT had directed Noida Authority to stop all construction within 10km radius of Okhla Bird Sanctuary. It further asked the Government of India to fix norms for such situations. The Centre, in turn, asked the respective state governments to fix the norms for their wildlife sanctuaries depending on their fragility and other issues. On February 25, the UP government recommended that the no-development zone be fixed at 100 metres. In March, Delhi made a similiar suggestion.

However, NGT has now reiterated its earlier order. During the hearing, Credai had requested NGT that projects beyond 100m–as proposed by the UP government–may be allowed to carry out construction subject to their getting environmental clearance on an undertaking that they are doing the construction at their own cost and risk, and would not claim any right. Credai said such a clarification had become necessary to mitigate developers’ hardship and ensure that there is no multiplicity of proceedings as allottees are threatening to take legal action. But NGT declined any relief.

Latest Realty News

Green clearances go online with time limits for approvals
Jun 06, 2014
DELHI : The government on Thursday kicked off online environment clearances for industrial and infrastructure projects which have for long been hobbled by the slow pace of green approvals.
E-governance software to cut down on visits to Noida Authority office
Jun 06, 2014
DELHI: To reduce public interface and make paperwork easier, the Noida Authority is all set to launch an e-governance software in the next few days. According to officials, the trial run of the software, which will also ensure transparency and cut corruption, is being conducted at present.
Owning a farmhouse in NCR gets tougher
Jun 05, 2014
DELHI: The Haryana government has put an end to the farmhouse culture on the eve of World Environment Day. In a decision which will hit the lifestyles and ambitions of several rich and elite residents of the Millennium City, the government on June 4 decided to stop issuing change of land use (CLU) licences for farmhouses in agricultural zones falling under highly sensitive zones.
Pucca houses to all by 2022: Venkaiah Naidu
Jun 03, 2014
DELHI: The new urban development and housing minister Venkaiah Naidu is in favour of fixing “responsibility and accountability” on real estate developers.
Land rates hiked in Noida, Yamuna e-way areas
Jun 03, 2014
DELHI: Buying a property in Noida and along the Yamuna expressway has become more expensive.
Nod to stamp duty waiver in NCR
May 30, 2014
DELHI: The Haryana government on May 28 waived stamp duty on transfer of immovable property to blood relations, a few days after Punjab took a similar decision.
100 new smart cities for affordable housing
May 27, 2014
DELHI: Creation of 100 new smart cities, focus on infrastructure, and affodable housing are the cornerstones of the new government’s agenda for the real estate sector.
Modi’s mantra of hope for Indian realty
May 27, 2014
DELHI: For the common man of India, the dream to own a house will soon turn into reality with the Narendra Modi-led NDA government taking charge. Issues such as affordability of real estate, delayed construction projects, delays due to litigations surrounding real estate projects, etc. impacted developers as well as consumers.
REIT good for investor and industry
May 24, 2014
DELHI: The Securities and Exchange Board of India (SEBI) recently initiated steps to revive the Real Estate Investment Trusts (REITs).
Vigneshwara Group MD booked for alleged fraud
May 23, 2014
GURGAON: The managing director of real estate company Vigneshwara Group and two of his family members have been booked by Gurgaon Police in a multi-crore fraud case. Some estimates put the scale of the fraud at more than Rs 1,000 crore.

Latest Realty News Of State

Realty Talk's