In its authority, the Greater Noida Industrial Development Authority (GNIDA) would shortly provide land for the construction of retail centers, lodging facilities, and commercial buildings.
According to organizers, 22 commercial plots in various sizes are up for bid via an online auction as part of the program. December 1st is the deadline for registration, and December 5th, 2023 is the deadline for fee submission.
The following five details concerning the commercial plot layout should be noted:
Location
The scheme document states that these commercial plots are spread throughout six distinct Greater Noida sectors: Techzone VII (one plot), Ecotech 12 (one plot), Alpha-II (five plots), Delta-II (five plots), and sector 10 (four plots). These plots are easily accessible to Yamuna Expressway, the future Noida International Airport in Jewar, and dedicated freight routes on the east and west. They are also close to residential, commercial, and educational destinations.
Number and size of plots
These 22 commercial plots are being offered in eight sizes – 2313.47 square metres (five plots), 2580 sqm (four plots), 9250 sqm (one plot), 10,000 sqm (one plot), 10,400 sqm (six plots), 10,600 sqm (three plots), 11,500 sqm (one plot) and 12,000 sqm (one plot).
Price
The reserve prices of these plots are between Rs 21.94 crore and Rs 109.1 crore. The EMD (earnest money deposit) value of these plots will be 10 percent of the cost of the plot, or between Rs 2.1 crore and Rs 10.9 crore depending on the size. The applicants will also have to pay non-refundable processing fees between Rs 2.01 lakh and Rs 6.30 lakh excluding 18 percent GST.
Allotment
These plots will be allotted through e-auction on an “as in where is” basis. The date of the e-auction will be announced separately. The Authority noted that successful allottees will be provided ‘FAR 4’ for optimum usage of their plots.
Payment Plan
For the commercial plot concept, the Authority has offered two different ways to pay. Option one allows allottees to pay the whole premium of the plot, including earnest money, in full and in full within ninety days of the allocation letter’s issuance date. A two percent rebate on the plot’s total premium will be granted in this scenario.
In option two, within 60 days of the allotment letter’s issuance, the successful allottees must pay 40% of the entire sum (including the registration fee or EMD amount). The remaining 60% must be paid over the course of three years in six half-yearly EMIs.
