The upcoming scheme will be unveiled in a multi-story residential society, which is located in Sector Omicron-1 A, Greater Noida.
Dreams of those who seek to own a home in Delhi-NCR are likely to come true as the Greater Noida Authority is set to unveil a new flat scheme after Makar Sankranti. This scheme will offer the opportunity to buy flats in multi-story societies equipped with modern amenities. The flats will be allocated this time through an auction, not a lottery. Notably, this system is being adopted by the Greater Noida Authority for the first time.
Multi-story residential society
The upcoming scheme will be unveiled at a multi-story residential society located in Sector Omicron-1 A, Greater Noida. The society has been developed by the authority and comprises 20-story towers with flats available in sizes of 58 square meters and 82 square meters. Reports indicate that 90 flats, each of 82 square meters, will be offered under the scheme in the first phase. It will later be followed by a scheme for the smaller flats of 58 square meters.
Base price of flats
The base price of the flats has also been fixed by the authority. The base price for the 82-square-meter flats is being set at Rs 72 lakh. The base price for the 58-square-meter flats has been kept at Rs 49.11 lakh. The allocation of the flats will be done to the applicant who submits the highest bid through the auction process. This process is aimed at increasing transparency and ensuring a fair market price.
As per the Greater Noida Authority, multi-story residential projects were previously developed in Sector Omicron-1 and Omicron-1 A. The flats in these sectors were allotted through a lottery system. However, approximately 350 flats are still vacant in Sector Omicron-1 A, and these are also going to be allotted through an auction.
Greater Noida Authority CEO NG Ravi Kumar has said that the availability of residential properties in the area has increased, and the new flat scheme is being launched to meet the demand.
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