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August 24 2023
10 Min Read

Noida Authority Launches Group Housing Plot Scheme

The Noida Authority has launched a new group housing plot scheme in sectors 43 and 44. The plots will be allotted through e-auction, and the last date to register for the scheme is August 30, 2023.

The group housing plot in Sector 43 measures 41,145 square meters, while the one in Sector 44 is 13,800 square meters. Both plots are located in prime locations in central Noida and are well-connected to major roads and highways.

The minimum bid amount for the plot in sector 43 is Rs. 120 crores, while the minimum bid amount for the plot in sector 44 is Rs. 36 crores. The bidding will start at 11:00 AM on August 30, 2023.

Eligibility Criteria for Noida Plot Schemes

If you are planning to buy a property via the plot scheme, you must ensure this eligibility criteria:

The applicant must be an Indian citizen.
The applicant must not have any other plot through any government scheme.
Must be 18 years or above.
The applicant, his/her children, and spouse are eligible to apply for the residential scheme.
The applicant must have a valid PAN card and a bank account.
The minimum annual income must be Rs. 10 lakhs.

How to Apply for the Plot Scheme?

If you are interested in the scheme, here are a few simple steps that will make your application easy:

Go to the Noida Authority’s (New Okhla Industrial Development Authority’s) official website.
Click on the Live Land Allotment Scheme button in the Citizen Interface Section by scrolling down.
You will get all different types of Noida Plot Schemes 2022 on the next page where you can choose the option according to your requirements.
Select the Noida Plot Scheme section, then click the Apply Online button.
You’ll be directed to the SBI e-Tendering portal once you’re finished. Find the plot that you like best by searching. You can also look at the plot prices listed by the Noida Authority.
Fill out the application form with documents and the registration fee and submit it to complete the registration process.

Benefits of Investing in the Noida Plot Scheme

The Noida group housing plot scheme benefits both developers and homebuyers. Developers can buy and sell housing projects at a good price while homebuyers can purchase a plot in a good location at an affordable price.

Noida is constantly developing with decent planning and infrastructure. Therefore, investing in plots can give you an advantage in many ways:

The city is well-connected to Delhi and other major cities in India.
The real estate market in Noida is booming, and the prices of properties are expected to continue to rise in the coming years.
Investing in group housing projects is a great deal as they offer various facilities like swimming pools, gyms, security, and much more.
Also, these plots are suitable for families as they provide security and a society to live in.

Auction Policies for Noida Plot Scheme

The plot allotment will be done via the auction process and interested people will have to bid for their plots. Apart from the eligibility criteria and other conditions, there are other things that people applying to such schemes should know.

First, the bidding will be done in two stages. In the first stage, the bidders will be shortlisted based on their eligibility criteria and financial bids. In the second stage, the shortlisted bidders will be invited to submit their detailed project proposals.

Second, the Noida Authority has reserved 20% of the plots for women and 10% of the plots for EWS/LIG categories. The Authority will conduct a separate draw for these categories.

Third, the Noida Authority will charge a premium of 10% of the total bid amount for the plots. The premium amount that the government is charging will help in the development of the infrastructure of the area. So, you are paying for better facilities in your society.

Conclusion

We hope this article will help you get all the information about the Noida plot scheme. It is equally important to know your needs and verify them before you invest in plots. Therefore, researching is important so that you do not invest in the wrong scheme and waste your money.

Noida is a rapidly developing city and it is the right time to invest in real estate as the prices are reasonable right now and will only increase in the coming years. For more information about the plot schemes, you can visit the official website anytime.

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