Shares of real estate players DLF, Jaypee Infratech and
Unitech gained on Wednesday after the government eased the green zone
norms around Okhla Bird Sanctuary in the National Capital Region, a move
that will help developers in Noida.
The new green zone is much smaller than the 10-kilometre radius
demarcated by the National Green Tribunal in 2013. The government will
issue a final notification within a week, said Environment Minister
Prakash Javadekar. After the notification, the government will issue
occupancy certificates, which will provide relief to around 1 lakh flat
buyers.
DLF's Mall of India in Noida and four other realty projects fall within the revised green zone norms while Jaypee Infratech in this area has Wish Town project which is spread over 1150 acres.
Unitech also has a luxury residential Golf course project of 350 acres.
The revised eco-sensitive zone will be the area up to 100 metres from the eastern, western and southern boundary and up to 1.27 km from the northern boundary of the Okhla Bird Sanctuary.
Japyee Infra rose as much as 8 per cent to Rs 15.9 while DLF gained 3 per cent to Rs 131.85 and Unitech advanced nearly 2 per cent.
In comparison, the broader Sensex and Nifty were flat
DLF's Mall of India in Noida and four other realty projects fall within the revised green zone norms while Jaypee Infratech in this area has Wish Town project which is spread over 1150 acres.
Unitech also has a luxury residential Golf course project of 350 acres.
The revised eco-sensitive zone will be the area up to 100 metres from the eastern, western and southern boundary and up to 1.27 km from the northern boundary of the Okhla Bird Sanctuary.
Japyee Infra rose as much as 8 per cent to Rs 15.9 while DLF gained 3 per cent to Rs 131.85 and Unitech advanced nearly 2 per cent.
In comparison, the broader Sensex and Nifty were flat
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