Greater Noida authority to build 10k flats under affordable housing scheme

GREATER NOIDA: The Greater Noida authority has decided to construct 10,000 units under the Prime Minister affordable housing scheme in different sectors of the city, officials said on Tuesday

GREATER NOIDA: The Greater Noida authority has decided to construct 10,000 units under the Prime Minister affordable housing scheme in different sectors of the city, officials said on Tuesday.

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The authority will build the 10,000 units with the support from the private developers willing to take up the project. To make the project economically viable, the authority will allow the developers to use 10% of total housing project for commercial purpose to earn profit, the officials said.

However, the authority is likely to conduct a survey beginning February 1 to first identify those, who are eligible and interested to take up these flats for use, they said.

Also, the authority will offer additional floor area ration (FAR) in order to construct more units (other than EWS flats) so that the developer can earn revenue and deliver the affordable houses to people belonging to the economically weaker section, said the officials.

“We will invite applications from the interested private developers next month and then the work on this project will begin,” said Deep Chandar, additional chief executive officer, Greater Noida authority.

Under the scheme, the central government offers ₹1.5 lakh fund for one unit having a covered area of 30 square metres and the state government gives ₹1 lakh. The remaining expenditure will be borne by the developer or a group of developers, who will show interest in this project, the officials said.

The authority will give an opportunity to small developers, who can take up three, five and ten hectares to develop units. Small developers can also form a consortium and then take up the project.