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Noida: The Noida Authority On Wednesday announced an increase in the land purchase rate from farmers to Rs 5,324 per square meter from the existing Rs 5,060 per square metre. The authority also said it will bring out a scheme to facilitate rehabilitation of dues in group housing projects and sports city plots to assist home buyers with the registry.
It further amended the provisions relating to extension of time for completion of projects by real estate developers.
This decision was taken in the 208th board meeting of Noida Authority under the chairmanship of Uttar Pradesh Infrastructure and Industrial Development Commissioner Arvind Kumar.
CEO of Noida Authority Ritu Maheshwari and Managing Director of Uttar Pradesh Financial Corporation Rajashekhar also attended the meeting held here.
Regarding the determination of rates of land to be purchased from farmers with mutual consent, the statement said, “On the basis of the registered sale deed, the purchase was being done by the Noida Authority at the rate of Rs 5,060 per square meter. It should be increased to Rs 5,324 per square meter in the public interest.”
To facilitate resettlement in residential projects of group housing, the Noida Authority said, “In order to resolve problems in the registry of flat owners, the facility of resettlement from 01.01.2023 to 31.03.2023 for depositing overdues for residential and Sports City Plot in Group Housing, Commercial Dept.”
“Under the rescheduling facility, the installments will be rescheduled by capitalizing the overdue amount of premium/interest/or premium/interest rescheduled earlier and additional compensation, lease rent and overdue future installments. The period of the rescheduled payment plan shall not exceed two years Will be.”
It also announced the introduction of a three-month amnesty scheme for waiver of interest on water charges and regularization of unauthorized water connections, which would be applicable only till March 31, 2023, after which normal rates of recovery would apply, according to the statement.
On the extension of time fixed for completion of work in builders’ plots, the Noida Authority said that in order to encourage speedy execution of sub-lease deeds of flats in favor of home buyers, it has been decided that the time extension charges will be will be imposed on Based on built up area and residual area on the project.
“In case of old allottees, time extension will be given for the entire project up to a maximum of 15 years from the date of lease deed and for new allottees up to a maximum of 13 years from the date of lease deed. For new allottees, if the completion of the first phase of the project is not completed within seven years, the allotment shall compulsorily be cancelled,” it said in the statement.
The authority also said it will bring out a scheme for LIG, MIG and HIG residential apartments – a total of 340 units – in Sectors 52, 62, 71, 99, 118, 135. LIG flats will be allotted on the basis of lucky draw. E-auction of MIG and HIG apartments will be done.
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