The registration for the residential plots scheme has started and the last date to apply is January 25. The cost of these residential plots ranges between Rs 27 lakh and Rs 2 crore.

The Greater Noida Industrial Development Authority (GNIDA) has launched a scheme of residential plots located across four different sectors in Greater Noida.

Under the scheme GNIDA is offering 10 residential plots measuring in the range of 51 square metres (sqm) to 500 sqm. The cost of these residential plots begins at Rs 27 lakh and will go up to Rs 2 crore, GNIDA officials said.

These plots are located in sector 2, Beta 2, Delta 2 and Sigma 2 in Greater Noida and are in proximity with the Yamuna Expressway, which connects Greater Noida with the heritage cities of Mathura and Agra.

“The registration for the residential plots scheme has started and the last date to apply is January 25. The allocation of these plots will be done through e-auction, the date of which will be announced separately,” a senior official of Greater Noida Authority told Moneycontrol.

He said that the possession of these plots will be handed over within 30 days of completing formalities after the e-auction.

Prices

Out of 10 residential plots, seven are located in Sector 2, each measuring 220 sqm, with reserve prices ranging from Rs 1.14 crore to Rs 1.2 crore. The reserve price of a 200 sqm plot in Delta 2 is Rs 1 crore.

The largest plot measures 500 sqm plot in Sigma 2. This 500 sqm plot is priced at over Rs 2 crore and is the most premium offering under the scheme. The smallest plot measures only 51 square meters in sector Beta 2 and the reserve price of this plot is Rs 26.75 lakh.

Payment plan

Applicants will have to deposit 10 percent of the total reserve price as the registration amount to participate in the e-auction process. Successful bidders will have to pay 25 percent of the total premium within 15 days of receiving the allotment letter as allotment money, including the registration amount.

The allottees can either pay the remaining 75 percent in full within 60 days and can avail of a 2 percent rebate on the bid price, or they can pay the remaining amount in four quarterly EMIs with simple interest over a period of one year.