Noida offers realty bonanza this Diwali

The Noida authority on Wednesday said that it would launch an 866-flat scheme for homebuyers this Diwali. The scheme will offer flats under middle income group (MIG), high income group (HIG), low income group (LIG), economic weaker section (EWS) categories. Vinod Rajput reports.

The Noida authority on Wednesday said that it would launch an 866-flat scheme for homebuyers this Diwali.

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The scheme will offer flats under middle income group (MIG), high income group (HIG), low income group (LIG), economic weaker section (EWS) categories.

According to officials, about 600 flats are available under the LIG and the EWS categories. However, the authority is yet to decide the cost of these flats. Sources said the flats would be available at a lower rate compared to the existing market price.

“The scheme offers more EWS and LIG flats. We will decide the cost of all the flats soon. We will soon finalise the date from when applicants can purchase the forms," said Akhilesh Singh, deputy chief executive officer (DCEO), Noida authority.

These flats are located in sectors 66, 71, 73, 55, 93, 110 and 135.

“We are yet to decide the cost of flats under each category. The flats will be allotted to applicants through a lucky draw on Diwali,” said Singh.

This is the first time after 2006-07 that the authority has come up with a residential flat scheme.

The authority had to allot these flats in 2006-07 but it was unable to do it for various reasons. The officials concerned have been conducting a survey for the past one month to identify unallotted flats.

Meanwhile, the authority will launch another scheme of 501 shops in Transport Nagar, which is being developed in Sector 69. Initially, this scheme was supposed to be launched on October 15. But because of a protest call given by transporters and farmers, the authority had delayed the launch. These shops, measuring 120 sqm, are meant for transport offices or other commercial purposes.

“The authority will take more time in finalising the date as to when the 501 shop scheme will be launched,” said the DCEO.

The authority had to cancel the 501 scheme launch as transporters had objected to the rate at which the shops are offered. They demanded that the rate should be cut by almost a tenth and the plots priced at R7,800, per square metre instead of Rs 76,000 per square metre.