HOMEOWNERS are being urged to make sure they know their rights to compensation as the plans to bring high-speed rail to the region develop.
People living near the proposed line will be entitled to claim for compensation when the route is finalised.
Homeowners in towns and villages including Stapleford, Long Eaton, Nuthall, Strelley and Trowell may be liable for payments for loss of value of their property.
Steve Waters, of Conway Road, Long Eaton, said: "There's a bit of concern and confusion about it all really.
"If the price of my house drops 10 per cent because of the high-speed trains next to me, I would like to see that money back."
Homes being demolished, compulsory purchase orders being made and a dramatic fall in property values are all a very real prospect as plans forge ahead for the controversial line which will go from London to Leeds via Toton.
Mark Williams, partner at Nottingham-based Cleggs Solicitors, said: "Of course many residents are worried about HS2 and the impact it will have on their properties. It is very important that they know what the consequences of the high-speed line could be and what their legal rights are to compensation.
"A claim can be made so that properties affected in this way are bought by the Government at their market value, free from any reduction.
"In addition to this, property owners can claim for a 10 per cent payment for the loss of their residential home."
Mr Williams added there was also potential for homes due to be demolished to be sold to the Government and then rented back until construction starts.
He said: "Generally, properties falling within 120 metres of the line will be entitled to claim but there are a number of exceptions to this.
"Once it has been opened for a year, property owners affected can seek compensation for the physical impact of the railway. For example, noise, vibration or light pollution. Those who do not live in the 120m zone and have a financial requirement to sell but can only do so at a significant loss because of HS2, may be able to have their property purchased under the Government's long-term hardship scheme."
After the route has been finalised later this year, where councils identify the land they need which might impede on the development of the line which, due to open by 2032.
A spokesman for HS2 said that the Government had launched a consultation which would last until April on an exceptional hardship scheme which could allow residents to sell their home to the Government for its "unblighted value".
