Tag Archives: Greater Noida Industrial Development Authority

Greater Noida development body starts new industrial plot scheme

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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.

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Greater Noida Buyers Left in dilemma.

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Over 5000 middle class buyers of Noida Extension apartments are in terrible situation. They are the sufferers of the conspiracy of the developers and Greater Noida Industrial Development Authority. Buyers were never told that the land was the subject of the court dispute. Now the buyers are in the dilemma. Either they have to bear the interest on the loans they had taken from the banks or agree to the terms of the builders who are suggesting them to take flats of any other project. The buyers are seeking refund but the buyers says they will deduct the penalty and refund the amount. Also, the banks are not ready to refund them the interest buyers have already paid for the loans taken. This is a double whammy for the buyers as many of them have invested their life time savings to purchase their dream home in Greater Noida.

Bankers have suggested buyers to relocate to a new project of the same builder so that the buyer don’t lose on the interest amount, but this would be completly on the mercy of the builder, they would charge current rates which are high and may not give any discounts. Forget about the lifestyle the buyers were dreaming.

In these circumstances, buyers have no other option but to go to the Supreme Court.  The lawyers are also suggesting buyers to settle down with the builders but some of the lawyers are ready for court.

Those who have invested their hard earned incomes and life-time savings in buying houses should definitely get justice, they deserve it. This mess is created because of the GRIDA and the developers, then why should the buyers suffer.