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The Noida Authority has recently introduced two new group housing schemes in sectors 43 and 44, providing an exciting opportunity for individuals and real estate developers to invest in prime locations. These plots, measuring 13,800 square meters and 41,145 square meters respectively, will be allocated through an e-auction process, with the sale set to conclude on June 30.
As per the Noida Authority official, the application process for these schemes commenced on June 10, and interested parties have until June 30 to register and submit the required fee. To participate in the e-auction, applicants must first register and obtain a user ID and password from the designated portal. Additionally, they are required to make a non-refundable and non-adjustable processing fee of Rs 20,000 (excluding the Goods and Services Tax) for each plot they wish to bid on.
The official emphasized that these group housing plots are strategically located in central sectors of Noida, making them highly sought after in the real estate market. With the increasing demand for housing in the area, the Noida Authority aims to develop group housing projects on these plots. Consequently, they intend to allocate the plots to suitable builders through the auction process. The official expressed optimism that the scheme will attract a significant number of bidders who can capitalize on this opportunity.
Regarding the payment structure, the official stated that it closely resembles the arrangements in recent schemes introduced by the Noida Authority. Real estate developers interested in acquiring these group housing land parcels must first submit the earnest money prior to the auction. Subsequently, upon the allotment of the plots, they are required to settle the remaining land cost within 90 days.
The launch of these group housing schemes by the Noida Authority reflects their proactive approach in meeting the growing demand for housing in the region. By offering prime land parcels through an e-auction, they provide a fair and transparent opportunity for developers to contribute to the development of Noida's real estate sector.
Interested individuals and real estate developers are encouraged to take advantage of this scheme and participate in the e-auction process. With their strategic location and the Noida Authority's commitment to fostering development in the area, these group housing plots present a promising investment opportunity. As the deadline for registration and fee submission approaches, it is essential for potential bidders to act promptly and secure their participation in the auction before June 30.
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