Noida Authority to Roll out a Titillating Housing Scheme in January 2014

Noida Authority to Roll out a Titillating Housing Scheme in January 2014

Noida Authority to Roll out a Titillating Housing Scheme in January 2014

For property-seekers in Noida, there are really some warm fuzzies stored in this festive season. For aspirant homebuyers, who are on the lookout for LIG flats in Noida Sector 99 & 135, MIG flats in Noida Sector 100 and HIG flats in Noida Sector 99, Noida Authority has rolled out a lucrative offer: about 850 units under different categories shall be available for sale in these localities. To add to this, the scheme also offers EWS (Economically Weaker Section) flats in Noida Sector 73 & 99; and Shramik Kunj flats for sale in Noida Sector 93, Sector 67, Sector 110 and Sector 122. Under this bonanza scheme, flats falling in the range Rs. 35 lacs - Rs. 1 crore have been included, and these shall target the buyers with different income brackets. The winners shall be declared via a Lucky Draw that is slated to take place on a date finalised by the CEO, Rama Raman: February 15, 2014.

The sale of brochures shall commence from January 1, 2014. The prospective buyers can have them from any nearby government or private banks by paying Rs. 1500/-. Noida authority has set January 31 as the last date for sending application forms, thus giving an ample time to complete the formalities. With every form, it would be mandatory to deposit a simple registration fee, which in his case, would be 10% of the flat cost. According to Akhilesh Singh, deputy chief executive officer (DCEO), this fee shall be refundable, in case a buyer does not win the draw. Keeping the financial constraints of the buyers in consideration, the authority has set afloat the scheme with 16 instalments stretched over eight years.

There are, in total, five categories of Noida flats under this housing scheme: LIG (Low Income Groups), MIG (Middle Income Groups), HIG (High Income Groups), EWS (Economic Weaker Sections), and Shramik Kunj ( for farmers). While the total units under MIG and HIG are 41 and 47 respectively, for LIG buyers, the number is higher: 143. For EWS slot, it would be 150, while a whopping 485 has been set for Shramik Kunj. And as far as prices for every section are concerned, the scheme has rates that comply with the affordability of each category.

Starting from lowest rates, Shramik Kunj flats will cost around Rs. 4.70 lakh; EWS between 9-10 lakh; LIGs at Rs. 35.5 lakh; and MIG for Rs 59 lakh for each residential unit. For HIG, the price has been set at 1 crore. Property seekers should note that this project shall have 50% reservations under different categories. According to a concerned official, a minimum of 17.5% has been reserved for farmers and industrialists. For Noida authority employees as well as for those who already have commercial and institutional properties in the city, a quota of 5% has been set aside.

This housing scheme is expected to pull in huge crowd of homebuyers, especially those who are eager to buy property in Noida in the New Year.

Last Updated: Thu Jan 17 2019

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