Greater Noida Housing Scheme Goes Live; Over 1,200 Units Up For Sale

Greater Noida Housing Scheme Goes Live; Over 1,200 Units Up For Sale

Greater Noida Housing Scheme Goes Live; Over 1,200 Units Up For Sale

The Greater Noida Industrial Development Authority (GNIDA) is ready to allot 1,246 possession-ready homes, starting October 10. Affordably priced between Rs 28-74 lakh, these 1, 2 and 3BHK units are located at Sector 12 and Omicron 1.  The prices are tentative and exclusive of Goods and Services Tax (GST) and documentation charges.

The scheme was launched on October 2 and will close on November 12 this year. These are leasehold properties and would be allotted to homebuyers for a time period of 90 years. 

At a time when the real estate market in the national capital region (NCR) is just looking up, the availability of units at a popular price range is welcome news. The authority is hopeful that they would meet a good response from prospective homebuyers.

The locations

Sector 12 and Omicron are areas that boast greenery and are in the immediate vicinity of premier educational institutions. Moreover, there is commendable connectivity with other strategic locations in Delhi and the NCR. Moreover, the Aqua Line of the Metro, which is set for launch this month, will also enhance the marketability potential of this location.

The numbers

About 987 flats are available in Sector Omicron 1 and 259 flats are in Sector 12. These projects are Real Estate Regulatory Authority-registered. You can find more details if you check their RERA registered number, that is UPRERAPRJ9565 (for 1 and 3BHK apartments in Sector 12) and UPRERAPRJ8764 (only 2BHK apartments in Omicron 1).

Four types of flats are available – furnished 1BHK units where the carpet area is 36.01 sqm (387.60 sq ft), 2BHK with a carpet area of 46.89 sqm (504.79 sqft), 2BHK (Deluxe) where carpet area is 67.59 sqm (727.50 sq ft) and 3BHK units with a carpet area of 102.53 sqm (1103.60 sqft).

How to apply?

Homebuyers can visit the GNIDA website for details about the allotment and availability. Using this link, interested buyers could submit their forms till November 12.

Payment plan

The registration charge is calculated at 10 per cent of the unit cost, Rs 2.85 lakh for a furnished 1BHK, Rs 3.26 lakh for a 2BHK unit, Rs 4.84 lakh for 2BHK (Deluxe) unit and Rs 7.45 lakh for a 3BHK unit. The full premium after adjusting the 10 per cent registration cost has to be paid within 90 days from the date of the allotment letter. You could also avail a rebate of five per cent on the 90 per cent balance payment.

You could also pay in installment. For this, 30 per cent of total premium has to be paid within 45 days of allotment. The remaining 70 per cent to be paid in four equal half-yearly installments with interest calculated at 11 per cent per annum on reducing principal amount.

Given that the property is allotted on a leasehold basis, if a buyer surrenders his/her unit before time, a portion of the registration amount will have to be forgone. 

There are also conditions on who could apply for certain types of units. For example, those looking at 120 sq mt flats should have a pay grade of up to Rs 1,800. For 200 sq mt, one has to fall in the pay grade of Rs 1,900-4,200. For 350 sq mt flats, those belonging to the pay grade of Rs 4,600-Rs 6,600 will be encouraged while hose with a pay grade of Rs 7,600 could apply for any type of flats.


Some units are reserved for various categories. Of the 1,200 units, 17 per cent are reserved for those farmers whose land has been acquired by the authority. 

Those who have been allotted units under the housing scheme previously, their spouses and children cannot apply.

Last Updated: Thu Jan 17 2019

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