Greater Noida Authority Introduces Commercial Plot Scheme for Shopping Malls and Hotels in Six Sectors

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    The Greater Noida Industrial Development Authority (GNIDA) has initiated a commercial plot scheme, inviting investors to set up shopping malls, hotels, and commercial complexes in six different sectors. A total of 22 plots are being offered in various sizes, ranging from 2313.47 square meters to 12,000 square meters, with reserve prices varying between Rs 21.94 crore and Rs 109.1 crore.

    Key Highlights of the Commercial Plot Scheme:

    1. Location:

    The commercial plots are strategically located in six sectors of Greater Noida, enhancing proximity to residential, commercial, and educational hubs. The sectors include sector 10 (four plots), sector 12 (six plots), Alpha-II (five plots), Delta-II (five plots), Techzone VII (one plot), and Ecotech 12 (one plot). Convenient access to eastern and western dedicated freight corridors, Yamuna Expressway, and the upcoming Noida International Airport in Jewar further adds to the appeal of these plots.

    2. Number and Size of Plots:

    The 22 commercial plots are available in eight different sizes, catering to various business needs. The sizes range from 2313.47 square meters to 12,000 square meters, providing flexibility for investors to choose according to their requirements.

    3. Price:

    The reserve prices for these plots range between Rs 21.94 crore and Rs 109.1 crore. Interested parties are required to submit an earnest money deposit (EMD), constituting 10 percent of the plot’s cost, varying between Rs 2.1 crore and Rs 10.9 crore based on the plot size. Additionally, non-refundable processing fees ranging from Rs 2.01 lakh to Rs 6.30 lakh (excluding 18 percent GST) are applicable.

    4. Allotment Process:

    The allocation of these plots will be carried out through an e-auction on an “as is where is” basis. The date for the e-auction will be announced separately. Successful allottees will be granted ‘FAR 4’ for optimal utilization of their plots.

    5. Payment Plan:

    The Greater Noida Authority offers two payment options for the commercial plot scheme. In the first option, allottees can make the full and final payment, including the earnest money, within 90 days from the date of the allotment letter, with a 2 percent rebate on the total premium. Alternatively, option two allows successful allottees to pay 40 percent of the total amount, including the registration fee or EMD amount, within 60 days from the date of the allotment letter. The remaining 60 percent is to be paid in six half-yearly EMIs over three years.

    Interested parties have until December 1 to register, and the deadline for fee submission is December 5, 2023. This strategic commercial plot scheme presents a lucrative opportunity for investors looking to establish a presence in the thriving Greater Noida region.

    Also Read: Yamuna Expressway Authority Announces Scheme for Hotel Plots near Noida International Airport

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