Following its float on February 7, the plan will expire on March 1, 2024. Officials say requests for the plots can come through February 2nd.

To entice real estate developers to create residential projects in the area, the Greater Noida Industrial Development Authority (GNIDA) has reopened a scheme for selling eight group housing builder plots after a lapse of more than ten years. 

According to officials, the scheme opened on February 7, and applications for plots can be made until February 2. The scheme will close on March 1, 2024. The Gautam Budh Nagar district’s Greater Noida region is under the jurisdiction of GNIDA.  

The planned October 2024 opening of the Noida International Airport is causing a spike in demand for housing in the Greater Noida and Yamuna Expressway regions. Thus, to address the housing shortage, we have introduced a plan for eight builder plots of group housing, and we are optimistic that relevant developers will respond favorably. 

He claims this is the first time the program has been introduced in 13 years, as the Authority decided to allocate housing plots in this category in or around 2010. 

These plots are spread throughout Greater Noida’s six sectors. Sectors 12 and Sigma 3 contain two plots each, while sectors Mu, Omicron 1A, Eta 2, and Sector 36 each have one plot. According to officials, these areas are close to the Yamuna Expressway, which links Agra and Greater Noida, and the Eastern Peripheral Expressway, which avoids New Delhi and travels through UP and Haryana. These industries will also correspond to the planned Jewar Film City and the soon-to-be Noida International Airport.  

According to the scheme brochure, Sector 36 offers a plot measuring 13,938.5 square meters, Sector Mu provides 18,215 square meters, and Sector 12 offers 22,558 square meters. 

Similar to this, a 32,350 sqm plot in Sector 2 is for sale, along with a 28,265 sqm plot in Eta 2, a 30,000 sqm plot in Sigma 3, and a 30,470.52 sqm plot in Sector Omicron 1A. The most expansive plot of the scheme of 38,771 sqm is on offer in sector Sigma 3.  

Allocation

Plots for group housing will go out through an online auction. A separate announcement will arrive regarding the e-auction’s date and time. For ninety years following the date of the execution of the lease deed, the plots will be on a leasehold basis. 

Authorities say that dividing or combining the allotted plots will not be allowed. 

Plan of payment 

In addition to a Rs 4.15 lakh processing fee, the applicants must deposit 10% of the plot’s reserved cost as registration money. 

The winning developers will have ninety days when the allotment letter is used to pay the entire land price. Within seven years of signing the lease deed, they must finish the project with the approved layout plan and get an occupancy certificate from the authority. 

How to use

Brochures and application forms are available for download at www.greatnoidaauthority.in. To apply and submit documents, interested parties must register on the e-auction portal at https://etender.sbi and receive a user ID and password.