New advisory: New rules for construction within 20 km radius of Jewar Airport, know what will be the impact on investors
The new rules on construction within 20 km radius of Jewar airport are necessary for security, but it brings many challenges for local people and investors. Local residents may face construction delays and economic losses.
There are many apprehensions among the people due to the implementation of new rules for construction within 20 km of Jewar Airport. Investors who invested money in plots or projects in the hope of profit are worried about what will happen to their investment. Let us tell you that the Airport Authority of India (AAI) has implemented strict rules related to height within a radius of 20 kilometers of Jewar Airport. People are now worried about what impact it will have on them.
What are the rules?
- Construction of buildings higher than 6 floors is banned within a 4 km radius, and installation of mobile towers is also prohibited.
- No construction of any kind can be done without NOC within a 10 km radius, and strict action has been ordered against illegal construction.
- NOC from AAI is mandatory for height clearance within a 20 km radius, which also includes works like planting trees.
- Use of drones and laser emitting devices is also prohibited, and instructions have been given to run awareness campaigns for this.
What will be the impact on people?
This rule can have many effects on people living in Jewar and surrounding areas.
Local people who were planning to expand their homes or build new buildings will now have to obtain NOC from AAI. This process can be time-consuming and complicated, which can delay individual construction plans.
Real estate and construction activities in the Jewar area are an important part of the local economy. The new rules may have a negative impact on local contractors, laborers and related businesses. Many people in rural areas may be unaware of these rules. Construction without NOC can lead to demolition of their buildings, which can lead to financial losses and legal troubles.
Since the announcement of the construction of Jewar Airport, there has been a huge surge in real estate investment in Yamuna Expressway and surrounding areas. Prices of land and plots have seen a surge since 2018, and many builders have launched residential and commercial projects. However, the construction ban has posed new challenges for investors. It can also have many side effects.
Delay in projects: Builders who have started construction without NOC may now have to stop their projects, which will affect the timeline and cost of the project, which will directly affect investors who have invested money in flats or plots.
Financial loss: If a project is declared illegal or demolished, investors may suffer huge losses. Due to the huge difference between the Yamuna Authority rate (about Rs 34,000 per square meter) and the market rate (Rs 80,000-95,000 per square meter), the valuation of investors’ capital may also be affected.
New rules and restrictions may shake the confidence of investors, especially those who were investing in jewellery keeping in mind the future prospects.
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