The Greater Noida Industrial Development Authority (GNIDA) has launched a scheme of 22 commercial plots with a floor area ratio (FAR, which dictates the size of the building in relation to the size of the plot it is situated on) of 4 at a cumulative reserve price of Rs 1,100 crore. These plots range from 2,313 square metres to 11,500 square metres and are located in seven different sectors in Greater Noida, officials said.
They added that the last date of registration for the scheme is June 19 while documents can be submitted till June 26.
Anand Vardhan, additional CEO of GNIDA, said the 22 commercial plots are located in seven sectors: Techzone 7, Ecotech 12, Sector 10, Sector 12, Alpha Commercial Belt, Alpha 2 and Delta 2.
“Out of 22 plots, four are located in Sector 10, five in Sector 12, one in Alpha Commercial Belt, one in Techzone 7, one in Ecotech 12, and five each in Alpha 2 and Delta 2. The facility to download the brochure has started from May 29. The last date to register for the scheme is June 19. The last date for submission of processing fee is June 22 and the last date for submission of documents is June 26,” Vardhan said.
He said that the reserve price of these 22 plots is more than Rs 1,100 crore and allotment of these plots will be done through e-auction only.
Officials said that a FAR of 4 will allow allottees to construct buildings with areas up to 400 percent of the total area of the ground they are situated on.
Payment option
The applicants will have to pay 10 percent of the total cost of the plot at the time of application as registration amount and 30 percent amount will be payable at the time of allotment.
Officials said that recently the commercial department held a meeting with investors where the latter had sought the option of paying the cost of the plots in instalments.
Also Read: Greater Noida Authority sells 23,600-sqm builder plot for Rs 110 crore
According to officials, this time the authority has hence given investors the option of paying the cost of the plots as a lump sum or in half-yearly instalments. They said that after the allotment of the plot, the allottee will also have the option to pay the remaining 60 percent cost in six instalments over a period of three years.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
