Prohibiting the use of groundwater for the purpose of construction, National Green Tribunal recently issued an Order. After the ban builders have halted construction in Noida and Greater Noida.
National Green Tribunal (NGT)’s order has prohibited the use of groundwater for construction purpose. As an impact of this order, builders have halted their construction in Noida.
Builders have revealed that they will have talks with the Authorities. The NGT order was issued on last Friday. Many of the real estate builders who have many projects in Noida and G. Noida, stopped their construction and said that they would continue the work only once the authority clear out the issue.
Water is an inevitable component for construction and without sufficient amount of water no construction will be possible. As a result the builders will have to bring water from some other areas to resume their halted construction.
Builders opined that in such case the property prices will again be raised as they have to meet the double expenses- the cost of water plus the cost of transportation.
Hearing the statement of the builders the buyers have become nervous and tensed. The builders say that the hike of prices has become inevitable and there is no other option in front of them.
Some prospective buyers said that they are thinking of cancelling their booking on the basis of unaffordability. Yet some said that they are waiting for the response of the builder who has asked them to wait till a decision is taken.
However it seems that the price hike will be imposed and the overburden will be imposed on the buyers who have already booked some flats. If the prices are to be raised then that will really affect the buyers adversely and they may become unable to afford such properties in Noida. Anyway one has to wait a couple of weeks till the Authority decides on the issue.
