Greater Noida Authority Commercial Plot Scheme 2024: How to Apply, Price

About Greater Noida Authority Commercial Plot Scheme 2024

A scheme to sell 12 commercial plots spread across four distinct Greater Noida sectors has been introduced by the Greater Noida Industrial Development Authority (GNIDA). In the Greater Noida region, these plots will be used to construct malls, commercial buildings, and other retail spaces. Twelve commercial plots have a total estimated worth of Rs. 1,014 crore at the reserve price. Read below to check the detailed information related to the Greater Noida Authority Commercial Plot Scheme like About, Objectives, Features, Benefits Description, Application Process, and much more

About Greater Noida Authority Commercial Plot Scheme 2024

A commercial property scheme introduced by the Greater Noida Industrial Development Authority (GNIDA) has attracted a lot of attention from investors seeking to establish new enterprises or make investments. With registration concluding on July 16 and the processing fee submission due on July 19, the Greater Noida commercial plots project provides prospects for constructing diversified companies in several sectors. A new high-rise commercial complex will be created as a result of the successful applicants’ expectation of possession within 30 days after allotment. The SBI Portal will be used for application processing. 10% of the plot’s total cost will be paid as the registration fee at the time of application. Within ninety days of the allotment, the remaining sum must be submitted.

YEIDA Plot Scheme

Features of Greater Noida Authority Commercial Plot Scheme 2024

Some of the key features of the Greater Noida Authority Commercial Plot Scheme are as follows:

  • Greater Noida Authority Commercial Plot Scheme has been introduced by the Greater Noida Industrial Development Authority (GNIDA).
  • It is a scheme to sell 12 commercial plots spread across four distinct Greater Noida sectors
  • These plots have a reserve price of Rs 1,014 crore.
  • Among these plots, three are located in Delta One, five in Sector 12, and one in Sector One.
  • These plots’ areas range from 3,600 to 10,600 square meters.
  • With a floor area ratio (FAR) of four, the allottees can potentially construct up to 400% of the entire ground covered.
  • Forty percent of the plot size may be covered by ground, and the entire process from application to allocation will be done online.
  • These areas are well-connected to the Eastern Peripheral Motorway (EPE) and the Yamuna Motorway, which links Greater Noida with the historic cities of Agra and Mathura.
  •  Additionally, these sectors will be connected to International Film City in YEIDA sector 21 and the soon-to-be Noida International Airport in Je war.

Greater Noida Authority Commercial Plot Scheme Description

Sizes of plots: These commercial plots are 3,600 to 10,600 square meters (sq m) in size. The scheme’s registration period started on June 26 and ends on July 16.

Location: These twelve commercial properties are dispersed among four distinct Greater Noida sectors. Sector 10 has three commercial plots, Sector 12 has five plots, Sector Delta 1 has three plots, and Sector 1 has one land parcel. The sizes of these plots vary from 3,600 to 10,600 square metres. The allottees can construct up to 400% of the total ground coverage, as their floor area ratio (FAR) has been fixed at four. A 40% ground coverage area is permitted on the site, and the entire process from application to allocation will be done online.

Prices: A reserve price of Rs 90,821 per square metre has been set for the commercial land lots. At the reserve price, the 12 commercial plots have a total cost of almost Rs 1,014 crore.

Payment Schedule and Allocation: Plots will be distributed via an online auction, the details of which will be revealed later. The programme document states that as registration money or an earnest fee, applicants must pay 10% of the plot’s reserved price. The winning bids will be paid under two different schedules. They have two options: they can pay the whole cost within ninety days of the allotment letter being issued, and they will receive a two percent refund on the total price; or, they can pay forty percent of the amount within sixty days of the allotment letter being issued. You have three years to pay the remaining amount in six equal half-yearly installments.

Plots Floor Area Ratio (FAR): The floor area ratio (FAR) for these commercial plots will be 4, as stated in the scheme brochure; before, the maximum FAR permitted was 3.75. The formula to calculate a building’s floor area ratio is FAR, or floor area ratio, divided by land area. The builder can add more stories and more room for commercial operations to their buildings if the FAR is greater. The allottee can construct 400 percent of the entire plot area if the FAR is 4. This action allows for the construction of new high-rise commercial buildings in the Greater Noida area.

Greater Noida Authority Housing Scheme

Greater Noida Authority Commercial Plot Scheme Application Process

The SBI Portal will be used to process applications. 10% of the plot’s total cost will be paid at the time of application as the registration fee. After the allotment, ninety days must pass before the remaining sum is presented.

FAQ’s

Who introduced the Greater Noida Authority Commercial Plot Scheme?

The Greater Noida Authority Commercial Plot Scheme was introduced by the Greater Noida Industrial Development Authority (GNIDA)

When is the last date for Greater Noida Authority Commercial Plot Scheme registration?

The last date for Greater Noida Authority Commercial Plot Scheme Registration is July 16

Leave a Comment