Over 400 residential plots in Noida to be allotted

The Noida authority on Monday said it has decided to allot over 400 residential plots through an electronic auctioning process.

The Noida authority on Monday said it has decided to allot over 400 residential plots through an electronic auctioning process.

A view of the Noida authority office. It plans to sell heretofore unsold plots through an online bidding process. (HT File Photo)

These plots, located in different sectors, were unsold. They were identified for allotment through online bidding.

“It is, in all probability, going to be the last residential plot scheme as the city has no fresh land left for new schemes. If all these plots are sold through e-bidding, then the authority will not come up with new residential plot schemes,” Rajesh Kumar, officer on special duty of the Noida authority, said.

The authority will start the process of plot allotment after a month.

“Earlier our plots department had identified 300 plots to be sold, but the number has increased to around 400 plots. These plots are of different sizes, such as 120 square metres, 250 square metres, 300 square metres and 450 square metres,” Kumar said.

These plots are located in sectors 44, 45, 46, 47 and 115, among others. The authority has decided to fix minimum allotment rates for these plots as per the prevailing circle rate of that particular area.

Whosoever places the highest bid against a plot will be able to buy it. The minimum circle rate in Noida areas that include sectors 12 and 115 is Rs 40,000 per square metre, and the highest circle rate is Rs 1,03,500 per square metre in upscale sectors such as 14, 15A and 44.

“These plots are available in almost all residential areas. Each plot under this scheme will be sold via an e-auction,” Kumar said.

Noida authority chief executive officer Alok Tandon has directed the residential plot department to check each plot status in detail so that allottees do not face any legal issue.

“The department is verifying whether there is any dispute pertaining to the plots. Each plot should be completely dispute-free, because we do not want buyers to face any problem,” Kumar said, referring to the issue of some residential plot owners facing an investigation by the Central Bureau of investigation (CBI) due to irregularities during allotment in 1994.