Noida Real Estate: Luck of the Draw

A new residential scheme for lower and middle income groups has been introduced by the Greater Noida Authority providing 2,256 constructed houses in four different categories, and covering an area of 70, 90, 120 and 250-sq. m. that will be priced at Rs. 12.33-lakh to Rs. 36.48-lakh.

Launched through a lucky draw by the Greater Noida Authority, the allottees lucky enough to win the draw, will be permitted to make additions according to the approved building plan, copies of which are available with Greater Noida's Planning Department, while constructions that do not conform to it, will need to be approved.

While, a 70-sq. m. house in this housing complex will cost Rs. 12.33-lakh, houses measuring 90, 120 and 250-sq. m. are priced at Rs. 14.96, 20.14 and 36.48-lakh respectively. The 250 and 120-sq. m. houses will come with two bedrooms, a drawing, dining, kitchen and bathroom, whereas, those measuring 90 and 70-sq. m. will consist of one bedroom, a drawing room, kitchen and a bathroom.

Housed in Greater Noida's new sector, Omicron near the village Mathurapur and Ghori Bachhera, the housing complex will have a swimming pool, park, community centre, post office, hospital, shopping complex and a parking space.

This time round, the Greater Noida Industrial Development Authority has followed a different initiative from its earlier practice of inviting tenders on a two bid system for Group
Housing Societies in 300-acres for different sectors.

This scheme of the Greater Noida authority provided the developers with an opportunity to participate in the development of a smartly slick city, where at all stages of development, supply precedes demand.

Holding many attractions for buyers and end-users in the form of a constant supply of drinking water, uninterrupted power supply, green areas, proposed metro, airport and world's fourth night safari, this Greater Noida residential scheme saw many participating in the draw.

Further, the permissible area for plots, commercial and commercial facilities is said to be 65% of the total area as per population norms permitted in the master plan of 2021, with the rest to be according to building regulations.

There will also be provision in this housing complex for other facilities, such as, nursery school, senior secondary school, nursing home, convenience shopping, commercial sector, milk booth, auto-taxi stand, secondary shopping and community centre, provided by the developers, while the green belt will be developed according to the authority's zonal plan.