Noida Government Offering 22 Commercial Plots in Eight sizes Between Rs. 21.94 crore & Rs. 109.1 crore

The Greater Noida Industrial Development Authority (GNIDA) is allotting land for setting up of shopping malls, hotels and commercial complexes in its jurisdiction. Information from the officials is saying that under this scheme 22 commercial plots are being offered under e-auction. The last date to register is December 1 and the deadline to submit fees is December 5, 2023.

The document which was published by the officials revealed that, these commercial plots are located in six different Greater Noida sectors including sector 10 (four plots), sector 12 (six plots), Alpha-II (five plots), Delta-II (five plots), Techzone VII (one plot) and Ecotech 12 (one plot). These plots are located in proximity to residential, commercial and educational hubs and have easy access to eastern and western dedicated freight corridors, Yamuna Expressway and the upcoming Noida International Airport in Jewar.

The respective sizes of the 22 plots are 2313.47 square metres (five plots), 2580 sqm (four plots), 9250 sqm (one plot), 10,000 sqm (one plot), 10,400 sqm (six plots), 10,600 sqm (three plots), 11,500 sqm (one plot) and 12,000 sqm (one plot).

The allotted prices of these plots are varying between Rs. 21.94 crore and Rs. 109.1 crore. The EMD (earnest money deposit) value of these plots will be 10 percent of the cost of the plot, or between Rs. 2.1 crore and Rs. 10.9 crore depending on the size. The applicants will also have to pay non-refundable processing fees between Rs. 2.01 lakh and Rs. 6.30 lakh excluding 18 percent GST.

The allotment will be done through e-auction process, whose date will be declared later. The successful allottees will be provided ‘FAR 4’ for optimum usage of their plots.

There will be two payment options for the commercial plot scheme. In option one, allottees can make full and final payment of the total premium of the plot within 90 days from the date of issue of the allotment letter. In such a case, a rebate of 2 percent will be given on the total premium of the plot. On the other hand, in option two, the successful allottees will have to pay 40 percent of the total amount within 60 days from the date of issue of the allotment letter. The balance 60 percent has to be paid in six half-yearly EMIs over three years.