Introduction
Greater Noida Commercial Plot Scheme: The Greater Noida Industrial Development Authority (GNIDA) has introduced a scheme for the development of shopping malls, shopping complexes, and hotels in various sectors of the city. For this, 18 commercial plots in six different sectors of Greater Noida have been put up for sale, informed officials said.
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The cumulative reserve price of all 18 plots is around Rs 1,134 crore, they said. Registration for the scheme is open until March 21. Documents can be submitted until March 23, 2024. The Chief Executive Officer, said that the position would be taken as soon as the e-auction and allotment processes were completed.
GNIDA Chief Executive Officer, NG Ravi Kumar, said, “We are thinking of meeting the demand of investors. Keeping in mind the needs of the people of Greater Noida, the commercial plot scheme has been launched with a FAR (floor area ratio) of four.
Location and Plot Size
Plots are for sale in six different sectors of Greater Noida. There are four commercial plots in Sector 10, six plots in Sector 12, and five in Sector Delta 2. Ecotech 12, Alpha 2, and Techzone sectors have one plot each.
These sectors have good connectivity with the Yamuna Expressway connecting Greater Noida and Agra and the Eastern Peripheral Expressway bypassing New Delhi and passing through Haryana and Uttar Pradesh (UP). These sectors are also connected to the proposed Film City and Noida International Airport at Jewar.
Floor Area Ratio of Four
According to Greater Noida Authority officials, this is the first time that the authority is selling commercial plots with FAR 4. In its earlier schemes, the maximum FAR allowed was 3.75. FAR is the ratio between the total construction area of the building and the land area. A longer distance means the builder can construct more floors.
It also means that their projects can include additional space for commercial activities. With a FAR of 4, the player can build on 400 percent of the total plot area. Officials said that with this move, taller commercial buildings can now be constructed in Greater Noida.
Allocation and Payment Plans
The allotment of plots will be done through e-auction. Officials said that the date would be announced soon. Applicants are required to deposit 10 percent of the reserved plot price as registration money. According to officials, the successful bidders will have two types of payment plans. They have to pay the amount within 90 days from the date of the allotment letter.
There, they also get a 2 percent discount on the total value. Or they can choose to pay 40 percent of the amount within 60 days. Payable in six equal half-yearly installments over three years from the date of the letter of allotment.
Use of These Plots
According to GNIDA officials, only commercial activities are allowed in these plots. These plots can be used for the construction of shopping malls, hotels, offices, shopping complexes, showrooms, restaurants, banks, retail outlets, banquet halls, etc.
“These plots will accommodate commercial activities and also meet the daily needs of the residents living in these areas,” Kumar said.
Conclusion
The scheme is introduced by the Greater Noida Industrial Development Authority (GNIDA) to develop commercial spaces. An auction will be held for that. Interested parties can participate in the auction and own the commercial space. For more information, visit Openplot.
Also Read: Noida Authority Expects to Earn 105 Cr the Allotment of 25 Commercial Plots