The Greater Noida Authority Thursday announced a scheme for the allotment of 11 commercial plots.
The process will continue for 21 days beginning September 26 via online applications.
The announcement came during a meeting of Greater Noida CEO Surendra Singh with the representatives of the Confederation of Real Estate Developers’ Associations of India (CREDAI) and other organisations.
“The allottees can build a total floor coverage of upto 400 per cent of the ground coverage, allowing high rise commercial buildings in Greater Noida. The allotments will be done through auction with the entire process from application to allotment being conducted through an online SBI portal,”said Singh.
Singh also said that the scheme was being launched in view of the investor demands and the needs of residents, noting that possession would be given immediately after allotment since none of the plots are disputed.
“With commercial activities in these places, the daily needs of the residents will be met,”he added.
10 per cent of the total plot cost, according to officials, would have to be paid for registration costs with the remaining amount to be done within 90 days of the plot allotment.