Housing Scheme : Noida Authority Launches Pair of Group Housing Scheme in Sectors 43 & 44

Noida Authority has launched a pair of group housing schemes in sectors 43 and 44. The plots will be allotted through e-auction in a sale ending on June 30. “The application for the scheme has started from June 10 and the last date to register for the scheme and submit the fee is June 30. The plots put up for sale in the scheme measure 13,800 square metres and 41,145 square metres,” a Noida Authority official said.

The group housing plot located in sector 43 measures 41,145 sq mts and the one in sector 44 is 13,800 sq mts. Interested applicants will have to register and obtain the user ID and password from the portal.

They will have to make an online deposit of a non-refundable and non-adjustable processing fee of Rs 20,000 (excluding the Goods and Services Tax) separately against each plot for participation in the e-auction on June 30.

The official quoted above said that these land parcels are located in premium locations in central Noida sectors and judging from the demand for housing, the Authority wants to develop group housing projects in the area. “So we want to allot these plots to suitable builders. We are hopeful that more bidders will come forward to take benefit of the scheme,” the official said.

He said that payment options in this scheme are similar to those in recent schemes. Real estate developers will have to deposit the earnest money before the auction and pay the remaining land cost within 90 days of the allotment of these group housing land parcels, the official said.