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Noida comes up with plot, flat scheme on Diwali

The Noida authority on Tuesday said that it has decided to launch a property scheme that will offer flats and plots for residential, industrial and institutional purposes. The authority is expected to offer about 450 residential plots of sizes ranging from 100 square metres to 500 square metres in different sectors under the scheme.

Noida authority said it has decided to launch a property scheme that will offer flats and plots for residential, industrial and institutional purposes. (Representative image) (HT Photo)

Though the authority is yet to fix the rates at which these plots will be sold, the rate for residential plots is expected to be between Rs55,000 per square metre to Rs1 lakh per square metre. The lowest rate of plots will be in Sector 122 and the highest rate for a plot is expected in Sector 44, officials said .

We have decided to launch multiple property schemes on Diwali to sell our unsold stock. We have plots for residential, industrial, and institutional purposes. Flats too will be on offer under our schemes. We are identifying the total number of plots, which will be on offer. We are working out the brochure and other details for the scheme to sell our leftover inventory,” Ritu Maheshwari, chief executive officer of Noida authority, said.

All the allotments will be done via e-bidding, and whosoever places the highest bid above the reserve price will get the plot, the officials said. They said that probably this will be the last opportunity to buy residential, industrial, transport and institutional plots.

We have plots, which either could not be sold in the past schemes or we cancelled the allotment of applicants on some technical grounds,” Maheshwari said.

The authority has a target to sell leftover property in the next two months after coming up with the scheme on Diwali.

“We aim to earn revenue by selling our unsold stock. We are yet to figure out how much revenue the authority will earn from these multiple schemes,” the authority’s CEO said.

According to the officials, the residential plots on offer are in sectors 31, 39, 44, 47, 49, 51, 52, 99, 100, 122 and 93B. The industrial plots are available in all old industrial sectors such as sectors 1, 2, 3, 4, 5, 6 and 11, among others.

We have cancelled the allotment of many industrial plots in the past three months in cases, where the old allottees did not develop any industry within a given time frame or could not pay the cost of the plot. We are identifying the exact number of industrial plots,” said another official, not authorised to speak to media.

Source from HT media

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