Greater Noida: In what case the NCR real estate sector rebounded from a decline induced by a pandemic, more than half a dozen applicants have shown interest in the purchase plot intended for group housing projects in Greater Noida.
Industrial authorities drift schemes consisting of four plot builder last month.
The smallest among them measures 5.83 hectares and is priced at Rs 76.2 Crore, while the price requested from the largest spread in 9.72 hectares in Sigma 3 is Rs 127 Crore.
The group housing part of the Great Noida Authority evaluated the initial response to the scheme on Tuesday and found that seven applicants were interested in participating in online auctions scheduled for later this month.
Given the weak sentiment in the market and the problem that took place between home buyers and developers, officials did not expect a lot of responses from the players.
However, taking lessons from past mistakes when launching a scheme for private developers, this time Gniga truly revised the terms and conditions of payment and emphasized on the completion of the current project.
While the previous plots were given to developers by taking only 10% of the total premium premium premium, this time Gnida will secure 50% in 60 allotment days and the number of balances for the next four years in eight installments.
Similarly, the authority will also impose strict conditions to ensure all phases planned in the layout of preparing within five years of allotment.
CEO of Gnida Narendra Bhooshan said, “Exitting with a new group housing scheme for builders is not easy.
Many industrial allotments and development have occurred over the past few years and requests for the apartment complex are felt.
Also several projects run on the back of the schedule.
We have introduced the conditions to be Ensure that only players seriously enter the current business.
“The last group housing scheme was wrapped in authorities in 2013-14.
The final result of the latest scheme will be opened in 15 or 16 November.
Applicant doctors will be studied and they must also deposit the money needed at that time to be eligible to participate in the auction.
Credai (Western Up) Secretary and Managing Director of the Civitech Group, Subodh Goel said, “It is good to see that the authorities have taken corrective steps to ensure timely project resolution.
But increasing payment upfront to 50% of the 10% will prevent many legitimate players because the developer does not have as much liquidity today.
“From the four plots located in Sigma 3 (two in Sigma 3), Zeta 1 and ETA 2, most applicants are interested in pocketing the zeta group housing plot 1 because Some colonies have emerged in areas and development activities increasing.
Greater Noida offers soil for group housing again, tighten terms
