Few takers for group housing scheme in Noida, authorities extend deadline for bids

The authority had on December 12, 2023 launched the group housing plot scheme offering two plots for those, who want to develop the housing project in Noida. The authority had fixed January 3, 2023 as the last date to submit the bidding application

Due to few takers for its group housing plot scheme, the Noida authority on Thursday extended the date to accept the applications. Only three applications against 2 plots have been submitted. As per the rules at least six applications three against each plot should have submitted taking the process to the next stage, said officials.

The authority had offered these group housing plots located in premium area- sectors 44 and 45, where land rates are in the range of ₹2 lakh per square metre or higher. (Representative image/HT Archive)

“As per the rules there should be at least 3 applicants against 1 group housing plot so that we can organize the e-bidding to finalise the successful bidder. But if the applications are less than 3 then we cannot take the allotment process to next stage that is of organizing e-bidding. As per the rules we will extend the date twice if less than 3 bidders will apply. If bidders will be less than 3 even after second extension of time then we will organize the e-bidding,” said Prasoon Diwvedi officer on special duty of the Noida authority.

The authority had on December 12, 2023 launched the group housing plot scheme offering two plots for those, who want to develop the housing project in Noida. The authority had fixed January 3, 2023 as the last date to submit the bidding application, said officials. Now the authority has extended the date till January 11, 2023 for application submission and January 13 for final submission of the bidding application, said officials.

The authority had offered these group housing plots located in premium area- sectors 44 and 45, where land rates are in the range of ₹2 lakh per square metre or higher.

Only realtors who will be able to pay the land cost within 90 days after allotment will be able to buy the land parcels. The earlier scheme of payment in parts over 7 years no longer applies, officials said. The authority offers plots of 14,000 square metres in sector 44 and 20,000 square metres in sector 45. The Noida authority group housing department is however not disappointed with only 3 bidders against 2 plots.

“The response against our group housing plot scheme has been good as expected. We hope more and more developers will apply after the date is extended,” said a Noida authority official, requesting anonymity.

The Secretary of confederation of real estate developers’ association of India (Credai), a realtors’ body, Nikhil Havelia said, “Noida market has a demand for new housing units therefore we as developers need more group housing land. As far as the response with regard to this scheme is concerned, we hope more builders will apply for it now after the time is extended.”