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Last week, the Greater Noida Industrial Development Authority (GNIDA) announced the availability of 22 commercial plots valued at Rs 1,100 crore for public auction. This move comes as part of a plan to stimulate the region's economy and create a convenient environment for residents to access daily necessities.
The commercial plot scheme aims to facilitate the construction of commercial complexes across various sectors in Greater Noida. The GNIDA is accepting online applications for the scheme until June 19.
This strategic decision was born out of a meeting held between investors and the commercial department under the directive of Ritu Maheshwari, CEO of the Greater Noida Authority. To attract more investors, Maheshwari has proposed a flexible payment plan allowing investors to pay 60% of the total cost in six instalments over three years, sans any bank guarantee.
The available plots range in size from 2,313 to 11,500 square metres, strategically distributed across key sectors of the city. Four plots are situated in Sector 10, five in Sector 12, and one each in Alpha Commercial Belt, Techzone 7, and Ecotech 12. Additionally, five plots each are located in Alpha 2 and Delta 2.
Each plot is designed with a four-floor area ratio, thereby optimizing the utility of the area. Anand Vardhan, ACEO of the Greater Noida Authority, noted that the brochure detailing the scheme can be downloaded from May 29 onwards.
The scheme will be conducted through an auction, with the final date for registration set as June 19. Meanwhile, the deadline for processing fee submission is June 22, with the last date for document submission marked as June 26.
In an effort to streamline the application process, GNIDA has integrated the bank portal with the Greater Noida Authority's official website, allowing potential investors to apply directly through the Authority's platform.
The GNIDA's commercial plot scheme demonstrates a strategic initiative towards local economic growth. By offering flexible payment plans and optimized plot locations, the GNIDA aims to attract significant investment, thereby driving the development of commercial complexes that would not only stimulate the local economy but also enhance residents' convenience.
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