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The Greater Noida Authority has introduced a scheme offering 10 residential plots ranging from 51 sqm to 500 sqm. The plots, priced between INR 27 lakh and INR 2 crore, will be allocated via e-auction, with possession granted within 30 days after completing formalities. The available plots include options in Sector 2, Sigma 2, Beta 2, and Delta 2, offering a mix of sizes and price ranges. Applicants must deposit 10% of the total premium to participate, and successful bidders have the option to pay the remaining amount in full or in quarterly installments. The plots come on a leasehold basis for 90 years.
The Greater Noida Authority has introduced a new scheme offering a selection of 10 residential plots, each varying in size from 51 square meters (sqm) to 500 sqm, with prices ranging from INR 27 lakh to INR 2 crore. These plots are being made available through an e-auction process, providing potential buyers with a transparent and convenient method for securing a property. Once the necessary formalities are completed, successful bidders will be able to take possession of the plots within 30 days. Advertisement
Among the available plots, seven are located in Sector 2, with each plot measuring 220 sqm. These plots have reserve prices between INR 1.14 crore and INR 1.20 crore. For those interested in a larger, premium option, there is a 500 sqm plot in Sigma 2, priced at over INR 2 crore, making it the most expensive and expansive plot in the current offering. On the other hand, for buyers looking for a more compact option, there is a 51 sqm plot in Beta 2 available for INR 26.75 lakh. Additionally, a mid-sized 200 sqm plot in Delta 2 is priced at INR 1 crore, providing an appealing choice for those seeking something in between the small and large plots.
To participate in the e-auction, interested buyers must first pay a registration fee amounting to 10% of the total premium for the plot they wish to bid on. If they are successful in securing the plot, the next step is to pay 25% of the total premium, with the registration deposit being deducted from this amount. This payment must be completed within 15 days of receiving the allotment letter.
The remaining 75% of the plot's price can be paid in one of two ways. Buyers can opt for full payment within 60 days, which offers a 2% discount on the bid price as an incentive. Alternatively, they can choose to pay in four quarterly installments over the course of a year, which will incur simple interest on the outstanding amount.
The plots being offered are on a leasehold basis for a period of 90 years, meaning that buyers will have the right to use the land for a long-term period, but ownership will remain with the Greater Noida Authority. It is important to note that the plots are being offered in their present condition, on an "as is, where is" basis. As a result, GNIDA has strongly recommended that potential applicants visit the sites before applying for the e-auction to familiarize themselves with the condition of the plots and make an informed decision.
This scheme provides a range of residential plot sizes and prices, catering to different needs and preferences, whether buyers are seeking a smaller, more affordable plot or a larger, premium investment. The flexibility in payment options and the long leasehold tenure make this an attractive opportunity for those looking to invest in property in Greater Noida. However, it is essential for applicants to carefully consider the condition of the plots and plan their finances accordingly.
The new residential plot scheme launched by the Greater Noida Authority offers a variety of options for potential buyers, from small plots to large, premium ones. The e-auction process ensures transparency, and the flexible payment options cater to different buyer preferences. The 90-year leasehold tenure makes these plots a long-term investment opportunity. Interested applicants should visit the sites beforehand to make an informed decision, considering the plots are offered in their present condition.
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