Noida has witnessed tremendous growth in the past few decades and has established itself as the numero uno destination for home buyers. A plethora of home seekers who were gung ho about living in their dream home at Noida are in a bind. As many as 50000 home seekers are having sleepless nights as the possession of their dream homes have been delayed by as many as 3 to 4 years due to finalization eco sensitive zone boundary near the all important Okhla bird sanctuary. But unfortunately the wait is all set to become even longer. Home buyers have turned to Rahul Gandhi for support as a last minute measure.
The environment ministry is of the view that the proposed 100 meter boundary should be revised. The ministry is mulling over the views and counter views which it has received in order to notification of its decision accordingly. But there are a whopping 600 plus notifications pending and that’s what’s causing a humungous dent in the hopes of buyers related to possession.
National Green Tribunal had issued a notification way back in October 2013, related to non issuance of completion certificate to all projects which lie within the disputed 10 KM radius of the crucial Okhla Bird Sanctuary. The Noida Authority has thus steered clear of issuing such certificates and a slew of real estate developers have therefore not been able to handover possession of completed projects for the past one and a half year.
People who had booked homes way back in the years 2008 and 2009 are yet to receive possession. Therefore these hapless buyers have been shelling out hefty amounts as EMIs and monthly rent. Thus the all important home buyer group of NCR has taken up the matter with leaders of Congress, including Rahul Gandhi. But it is already too late because whopping financial losses amounting to 2000 crores have already piled up.
Congress is not the only door these troubled buyers have knocked on. Buyers had reached out to the honourary PM of our nation as well. But no resolution has been reached till date. A major chunk of these buyers have shelled out more than 90% of the total costs but it looks like they have parted with their hard earned money not to live in their dream home but to run around government authorities.
To add to the woes of buyers, there isn’t much real estate developers can do about the rising situation either. Builders whose projects have been impacted due to the NGT order have been communicating to the buyers that the delay has been caused due to factors way beyond their controls and that the ball is entirely in Noida Authority’s court. To top it up they don’t have any idea regarding how much time will be needed for the situation to sort out. The hapless buyers have their fingers crossed and rightly so, in hopes that the authorities will realize the helplessness which they are completely surrounded by. Hope a resolution is reached very soon.