Noida Authority launches housing scheme to sell 340 flats in six sectors

(Representational image; Source: Shutterstock)

The Noida Authority on January 2 launched a scheme for the sale of LIG, MIG and HIG residential apartments in different sectors of Noida to cater to the rising demand for dwelling units, officials said.

LIG, MIG and HIG stands for categories as low income group, middle income group and high income group, respectively.

“It is good news for homebuyers as they now have a chance to purchase apartments in Noida. The scheme for LIG, MIG and HIG residential apartments – total 340 units – located in sectors 52, 62, 71, 99, 118, 135 has been launched on January 2. People can apply for the scheme till January 31,” a senior Noida Authority official told Moneycontrol.

The decision to bring out a scheme was taken in the 2,08th board meeting of the Noida Authority on December 28.

“The prices for these LIG, MIG and HIG units vary depending on a number of factors such as location, floor and size. The prices of these flats range between Rs 45 lakh and Rs 1.79 crore,” the official added.

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The official said the demand for residential apartments has risen significantly in Noida so the Authority has provided an opportunity for the public to buy flats located in six different sectors across the city.

How to go about it

He said people can either download the application form from the Authority’s website www.noidaauthorityonline.in or can procure it from any branch of the State Bank of India (SBI). Those who get the form from the SBI will have to submit it at the particular branch.

Homebuyers can also download brochures of the scheme from the Noida Authority’s website for more information including the details of the plots and the terms and conditions or they can procure it from the Authority’s office in sector 6 Noida.

The Authority has also issued helpline numbers 9560998908 and 0120-2422379 to assist the applicants in the process.

The processing fee, or the form fee, is Rs 1,000 excluding GST, which is non-refundable.

Lucky draw

The LIG flats located in sectors 52, 71, 99, 118 and 135 will be allotted through a lucky draw while the MIG, HIG and duplex apartments located in sectors 62, 99 and 135 will be e-auctioned.

For e-auction the interested parties will need to sign up and obtain a user ID and password on the portal https://property.etendersbi as well as remit EMD/e-service fee, the official said.

In its board meeting, the Authority had also decided to cancel the allotment of those land parcels where allottees have not yet constructed their homes even after 12 years of getting their registries done.

Also Read: Noida, Greater Noida authorities approve policy for rescheduling payment of dues owed by builders

Such allottees have been given time till March 2023 to get the map approved and start the construction. Officials said that after March 2023, the Authority will start the process of cancellation of land allotments.