In a bid to stimulate economic growth and attract investors, the Greater Noida Industrial Development Authority (GNIDA) has introduced a new scheme featuring 22 commercial plots. These plots, with a floor area ratio (FAR) of 4, offer the opportunity to construct buildings up to 400 percent of the total ground area. With a cumulative reserve price of Rs 1,100 crore, the GNIDA aims to generate substantial revenue through this scheme.
The commercial plots, ranging in size from 2,313 square meters to 11,500 square meters, are located in seven different sectors across Greater Noida. Interested individuals and businesses have until June 19 to register for the scheme, with document submissions accepted until June 26. Anand Vardhan, the additional CEO of GNIDA, disclosed that the plots are situated in Techzone 7, Ecotech 12, Sector 10, Sector 12, Alpha Commercial Belt, Alpha 2, and Delta 2.
To ensure a fair and transparent process, the allotment of these plots will be conducted through e-auction only. The reserve price for the 22 plots exceeds Rs 1,100 crore. Successful applicants will be required to pay a registration amount equal to 10 percent of the total plot cost at the time of application. Upon allotment, an additional 30 percent of the plot’s cost will be due.
Recognizing the need for flexible payment options, the GNIDA has introduced two choices for investors. They can either pay the full cost of the plot as a lump sum or opt for half-yearly installments. Furthermore, after the plot is allotted, the remaining 60 percent of the cost can be paid in six equal installments over a three-year period.
This scheme holds tremendous potential for businesses and investors looking to establish a foothold in Greater Noida’s thriving commercial landscape. The FAR of 4 allows for the construction of expansive buildings, providing ample space for growth and expansion. With strategic locations in prime sectors, the commercial plots offer a promising investment opportunity.
The GNIDA anticipates that this scheme will contribute significantly to the region’s economic development and attract substantial investment. It presents an exclusive opportunity for businesses to secure their presence in Greater Noida’s growing market. By participating in this scheme, entrepreneurs can leverage the authority’s flexibility in payment options and maximize their chances of success.
The registration deadline is June 19, offering limited time to take advantage of this remarkable opportunity. With the potential to shape the future of businesses in Greater Noida, this scheme is set to make a significant impact on the region’s commercial landscape.