In a bid to catalyze business ventures and facilitate commercial development, the Greater Noida authority has unveiled an enticing commercial plot scheme, offering a favorable floor area ratio (FAR) of 4. This scheme presents a golden opportunity for investors and realtors keen on establishing their presence in the burgeoning industrial landscape of Greater Noida.
Key Highlights of the Commercial Plot Scheme by Greater Noida Authority:
Prime Plot Selection: The scheme boasts a selection of 18 strategically located plots, ranging from 2,313 square meters to 12,000 square meters. These plots are distributed across prominent sectors including Sector 10, Sector 12, Alpha Two, Ecotech 12, Techzone, and Delta Two, ensuring diverse options for prospective investors.
Enhanced FAR: Significantly, this initiative marks the first instance where the FAR has been elevated to 4 by the Greater Noida authority, surpassing previous schemes that adhered to a maximum FAR of 3.75. This enhancement translates to expanded building potential, allowing developers to erect towering structures accommodating various commercial endeavors.
Competitive Reserve Price: The reserve price for these coveted plots is set at ₹1,134 crore, with rates varying between ₹67,000 to ₹86,000 per square meter based on the sector’s location. This competitive pricing commercial plot scheme in Noida aims to attract enthusiastic investors seeking lucrative opportunities in the thriving commercial landscape of Greater Noida.
Application and Allotment Process:
E-Auction Mechanism: The allotment process will be conducted via e-auction, with the highest bidder securing the plot. Interested parties are required to submit the processing fee and necessary documents by the stipulated deadline of March 23, 2023.
Seamless Online Procedure: Embracing digitization, the entire application and allotment process will be facilitated online. Applicants can conveniently apply through the SBI portal linked to the Greater Noida authority’s website, ensuring transparency and efficiency.
Flexible Payment Options: Allottees have the flexibility to opt for full payment within 90 days from the date of the allotment letter, entitling them to a 2% rebate on the total premium. Alternatively, a structured payment plan allows for 40% payment within 60 days, with the remaining amount disbursed in six half-yearly installments over three years.
Future Outlook:
With the implementation of FAR 4, Greater Noida is poised to witness a surge in high-rise commercial plot scheme by greater Noida authority, including shopping malls, showrooms, retail outlets, restaurants, banks, hotels, banquet halls, and offices. This initiative aligns with the authority’s vision of fostering a vibrant commercial ecosystem, catering to the evolving needs of residents and businesses alike.
Conclusion:
The commercial plot scheme by the Greater Noida authority plots heralds a new era of growth and prosperity for the region. By offering prime plots with enhanced FAR and streamlined allotment procedures, the authority paves the way for dynamic commercial expansion, setting the stage for a flourishing entrepreneurial landscape in Greater Noida.
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