Buyers of plots smaller than 4000 sq m to not be interviewed: GNIDA


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The Greater Noida Industrial Development Authority (GNIDA) allowed changes in their industrial plots scheme which will provide significant relief to the buyers. As per the amendments, the authority will not interview the buyers for explaining the purpose of buying the property. The changes apply to government plots of an area smaller than 4,000 sq m. A draw of lots will be considered in the case of multiple buyers for a single plot. The move is aimed at inducing transparency and easing the plot allocation process. Buyers who purchase parcels larger than 4,000 sq m will need to explain the efficiency of land and the projects they are planning to initiate on it. Buyers are also allowed to apply for specific plots.

The Chairman of GNIDA, Anup Chandra Pandey, shared, the details of land occupied under GNIDA will be uploaded on the website, and the users can apply online. Applicants who wish to extend their projects to an adjoining available plot will be given priority. Further, people interested in one-time payment will also be given preference. A discount of five percent will be granted to people initiating a one-time payment of 90 percent of the total cost of the project.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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