Builders can not divide and sell plots says Greater Noida Authority!

Posted on November 9, 2021 by zeeshan

builders-can-not-divide-and-sell-plot-greater-noida-authority

Developers will no longer be able to subdivide and sell their allotted land in Greater Noida and for industrial setup as well. They can not divide and sell land before the establishment of the local authority, and they must also pay a development fee.

The decisions were made today at the 124th board meeting of the Greater Noida Industrial Development Authority (GNIDA) at its Greater Noida office. Sanjeev Mittal, Uttar Pradesh Commissioner for Industrial Development, chaired the meeting attended by GNIDA CEO Narendra Bhoshan and several other senior level officials.

Villages will have smart classroom and libraries-

The board approved a proposal to transform 14 villages into smart villages. Mr. Bhoshan informed the board that a pilot project has been started in Maicha village. The tenders will soon be announced for 13 more villages.

In the first phase of smart village initiative, facilities for drinking water, drains, sewer connections, streets and electricity lines will be built. In the second phase – libraries, Wi-Fi, youth training centers and smart classrooms will be created in the schools of these cities.

Industries that started in Greater Noida even before GNIDA was formed will now be able to buy FAR (floor area ratio) on the remaining plots. They have to pay a fixed fee for this purchase. These companies must also have to pay development fees as well.

Now the apartments will be available to buyers on time

GNIDA stated that in view of the interests of apartment buyers, the board has made an important decision regarding developers to subdivide the plots and sell them. Now the division of large plots is forbidden. This means that the developer will now not be able to independently sell (divide) the plots allocated to him by GNIDA. They will have to complete the project.
This decision taken by GNIDA has two advantages. The builders will only take the land on which they want to build the project. Secondly, the apartments will be delivered on time. GNIDA said that time will not be wasted due to the subdivision of plots. The designated developer will be responsible for the timely delivery of apartments to buyers.

Also read:-

Noida received an investment of about Rs 64,000 crore, highest of all time!

Noida authority reduced transfer charges by 5% for residential plots

Best areas to live in Noida

Greater Noida authority reduces transfer fee on real estate transactions

Posted on June 29, 2021 by zeeshan

Greater Noida’s authority has lowered the real estate transfer fees charged for resale properties, making life easier for thousands of home buyers.

At a board meeting, the authority decided to reduce the transfer fee from 10% to 5% in institutional, commercial, and industrial categories. The allottees or buyers in Greater Noida must pay a transfer fee on the full resale value of the property along with the registration fee.

Dhiraj Jain, Director, Mahagun Group said, one of the decisions made at the meeting was to reduce transfer fees from 5% to 2.5% for residential areas, townhouses, shops / kiosks. The transfer fees are set at a maximum of one percent to 2.5 percent. This decision will definitely uplift the resale real estate market in different categories.
For group housing societies or companies, the government has limited transfer fees to 1%.

Yash Miglani, Managing Director, Migsun Group said, the board meeting of the Greater Noida Authority proved fruitful for the real estate industry. It is expected that many issues will be resolved. The decision made to reduce the transfer fees, which will increase the resale market. The sector needs constant support from the authorities, especially in the current challenging environment.

Greater Noida development body starts new industrial plot scheme

Posted on May 28, 2021 by zeeshan

To increase investment, the authority of Greater Noida (GNIDA) has launched a scheme of industrial plants, around 41 sites, ranging from 905 to 4062 square meters in Ecotech sectors 10 and 11.

Online applications for the program can be submitted at www.niveshmitra.up.nic.in by June 30. The process of allotment will begin on July 1 through lotteries and interviews for plots over 4,000 square feet. From this allocation, the GNIDA expects an investment of Rs 93 crore, which will cover a total area of 83,000 square meters.

Deep Chandra, additional CEO of Greater Noida Administration, said, we have developed a layout of an industrial plot scheme, where 38 plots or lands from 905 to 4062 sqm will be available in the Ecotech 10 and 11 GNIDA sectors. In addition, there are three plots of more than 4,000 square meter in these two sectors.

Narendra Bhuhsan, CEO of GNIDA, said, while GNIDA invites investment under the “ease of doing business model” proposed by the state government. Its goal is to encourage more multinational companies to set up operations in the area. “Many electronics manufacturers from Japan, Korea, and Taiwan have expressed interest in opening their manufacturing setup in Greater Noida. So, even in the Covid era, we launched an industrial land scheme to stimulate more investment. In addition, the Greater Noida administration will soon unveil new housing schemes for institutional, commercial, information technology, builders, and housing groups.

Talks Fails, GNIDA CEO faces ‘Hostile’ Crowd.

Posted on August 5, 2011 by admin

Greater Noida: 11 days left for the state government to work out an out of court settlement with Noida Extension farmers, the GNIDA has rushed talks but without success. The discussion between authority and the farmers of Patwari village failed on the issue of compensation, because back to back court orders quashing forcible land acquisition. The fate of 1 lakh houses in Noida Extension hangs in the balance.

The CEO of GNIDA Rama Raman, faced a hostile crowd of farmers, who said if the authority could not hike the compensation then there is no point of holding this discussion. They also accused the authority of trying dividing farmers by giving rehabilitations and other benefits to selected farmers, to weaken the movement against land acquisition.

Farmer leader said the authority is trying to play divide and rule policy by keeping land of some influential farmers. He told CEO, no out of court settlement could be reached out without hiking the compensation. The CEO said 4 bighas of land belonging to the village head would be regularized and not termed as encroachment.

The discussion between the authority and the Patwari village’s farmers failed on the issue of compensation. The authority wants to acquire the land and pay according to new acquisition and rehabilitation policy which allows the authority to give farmers bigger developed land plots, Rs 200 more per sqm as cash compensation, besides annuity payouts.

PropertyWala.com

India's Premier Real Estate Portal