A FAR of 4 allows allottees to build structures that cover up to 400% of the entire area of the land they are on.
Greater Noida Industrial Development Authority (GNIDA) has launched a project of 22 commercial plots with a floor area ratio (FAR) of 4 at a total reserve price of Rs 1,100 crore. According to officials, these plots range in size from 2,313 square meters to 11,500 square meters and are located in seven distinct areas of Greater Noida.
They also mentioned that the scheme’s registration deadline is June 19 and that paperwork can be submitted up to June 26.
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The 22 commercial plots are distributed among seven sectors, according to Anand Vardhan, another CEO of GNIDA: Techzone 7, Ecotech 12, Sector 10, Sector 12, Alpha Commercial Belt, Alpha 2, and Delta 2.
Out of the 22 plots, four are in Sector 10, five are in Sector 12, one is in the Alpha Commercial Belt, one is in Techzone 7, one is in Ecotech 12, and five are split equally between Alpha 2 and Delta 2. The brochure is now available for download as of May 29. The deadline to sign up for the program is June 19. The deadline for processing fee submission is June 22, and the deadline for document submission is June 26, according to Vardhan.
He said that these 22 plots’ reserve prices total more than Rs 1,100 crore and that only an online auction will be used to distribute them.
A FAR of 4 will, according to officials, let allottees erect structures with areas up to 400% of the entire area of the ground they are situated on.
Payment choice
Ten percent of the entire cost of the plot must be paid by the applicants as a registration fee at the time of application, and thirty percent must be paid when the plot is allotted.
According to officials, investors recently requested the option of paying the cost of the plots in installments during a meeting the commercial department had with them.
This time, the administration has given investors the choice of paying the cost of the plots in one flat sum or in half-yearly installments, according to officials. They stated that the allottee will also have the choice to pay the remaining 60% of the fee in six installments over the course of three years following the allotment of the property.
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