Noida authority has launched a new group housing scheme for realtors who want to develop housing facilities in the city. The group housing plots are situated in sector 44 and sector 45, where land parcels are available in the range of Rs 2 lakh per square metre or above. The housing scheme will come into effect on December 12, 2022 and the last date to apply for the scheme is January 1, 2023.
As per the scheme, only realtors who pay the land cost within 90 days after allotment can purchase the land parcels. Officials said that the earlier scheme of payment in parts over seven years will no longer apply.
One can buy the brochure for the scheme online for Rs 20,000. Applicants can purchase the plot through online bidding. They must first register themself and obtain a password before applying for the housing scheme. Under the scheme, plots of 14,000 sq mts in Sector 44 and 20,000 sq mts in Sector 45 will be available.
Noida authority CEO Ritu Maheshwari said, “We have only these two plots on offer in this scheme and other plots will be auctioned in schemes to be launched in future.”
As per the officials, the authority has been coming up with schemes to sell plots to collect revenue. UP chief minister Yogi Adityanath has directed the authority to draw as much investment as it can through various schemes for employment generation and improvement of the local economy.
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Legal committee head of CREDAI, Subodh Goyal said, “The Noida real estate market is undergoing a tough time with delayed projects and liquidity crisis. Let’s see if anyone will be able to buy plots under the new rule in which they need to make payment upfront.”
