Greater Noida authority to auction four land parcels for residential development
With 1.2 million sq ft of area to offer across four different plots, the authority expects a revenue of Rs 400 crore. As per the regulation of Uttar Pradesh government, the builder will be required to construct a certain number of EWS and LIG flats.
“In the last 3-4 years Industrial investment in Greater Noida has increased substantially. Due to this, demand for flats have also increased. To cater to this need, we have com who with where to allot land parcels to builders,” said a authority spokesperson.
The plots are spread in three different sectors of Greater Noida. Builders can download the application form till November 8 and last date to submit it is November 12. The e-auction will take place on November 22.
“Learning from past mistakes, where builders failed to deliver the project, we will try to allot plots only to those who can complete the project on time and can also pay dues of authority,” the spokesperson added.