The Noida Authority has launched several plot-related initiatives to assist residents in affordably purchasing residential, commercial, or industrial plots. To purchase plots under this scheme, applicants must participate in a bidding-auction procedure that is administered by the Noida Authority. This article will walk you through the complete Noida Authority Plot Scheme registration procedure, including the requirements, necessary paperwork, and other pertinent information.
Noida Authority Plot Scheme 2024
Real estate developers with stalled projects have been ordered by the Noida Authority to open escrow accounts. Since the Noida Authority and real estate developers will jointly manage these accounts, it will be challenging for them to divert monies designated for one Noida Authority Plot Scheme to other endeavors. By taking this action, the authority hopes to raise more than Rs. 7,000 crores from the city’s realtors. Realtors have been urged to put half of the entire amount collected for a project in their escrow account.
Objectives of Noida Authority Plot Scheme 2024
According to information provided by the authorities, real estate developers have frequently diverted funds to unrelated projects, which has caused delays in the projects for which they were intended. They also failed to pay the Noida Authority’s land cost as a result of doing this. The Noida Authority’s approach will reduce financial abuse while boosting dues collection procedures’ transparency. Out of the total number of developers, 59 have already opened the escrow account, and the remaining 55 are anticipated to do so shortly.
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Features of Noida Authority Plot Scheme 2024
The Noida Development Authority intends to introduce new residential developments in the city’s Sectors 43 and 44. These group housing developments will use an arranged e-auction approach to distribute plots. On June 10, 2023, the administration opened the application period for these group housing proposals. The application deadline for the same is June 30, 2023. The group housing developments in Noida’s Sectors 43 and 44, respectively, cover plots of two different sizes, measuring 41,145 square meters and 13,800 square meters.
Application Process of Noida Authority Plot Scheme
To apply for their preferred Noida Plot Scheme, interested buyers must first create an account on the Noida Authority portal. The candidates have to make a non-refundable deposit of Rs. 20,000 (excl. GST) to submit their application and take part in the online e-auction.
Types of Plot Schemes
Find below the types of plot allotment schemes the Noida Authority offers.
> Industrial Scheme
> Commercial Scheme
> Residential Scheme
> Group Housing Scheme
Eligibility Requirements for the Noida Authority Plot Scheme
The qualifications you must fulfill to apply to purchase a residential plot through the Noida Plot Scheme are listed below.
The candidate must be a citizen of India.
> The applicant must not have received a home or land through a government program.
> The applicant must be at least 18 years old.
> Through the Noida Plot Scheme, only the applicant, his/her spouse, or children can apply for a residential plot.
How to Apply Online for the Noida Authority Plot Scheme 2024
You can apply online for your favorite Noida Authority Plot Scheme by following these easy steps.
- Visit 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 may find all the different forms of the Noida Plot Scheme on the next web page. Choose the option that best suits your needs.
- Select the Noida Plot Scheme section, then click the Apply Online button. The Industrial Plot Scheme, for instance.
- You’ll be directed to the SBI e-Tendering portal once you’re finished. Find the plot that you like best by searching. The land rates for the Noida Authority are also available here.
- Complete the application, supply the required documents, and pay the registration price.
- To finish the registration procedure, submit your application.