Noida introduces new group housing scheme
Real Estate

Noida introduces new group housing scheme

A group housing program for realtors looking to construct housing facilities in the city was introduced by the Noida authorities. Sectors 44 and 45, where land costs between 2 lakh and more per square meter, are where the group housing plots are situated.

However, in order to purchase the land plots, realtors must be able to pay the land cost within 90 days of allotment. According to officials, the previous payment plan of seven years' worth of installments is no longer valid.

The deadline for applications is January 1, 2023, and the program will go into force on December 12th.

According to officials, the applicant can purchase the plot through online bidding. Before submitting an application for the program, which provides plots of 14,000 square meters in sector 44 and 20,000 square meters in sector 45, a candidate must first register themselves and then acquire a password.

“We have only these two plots on offer in this scheme and other plots will be auctioned in schemes to be launched in future,” said Ritu Maheshwari, chief executive officer of the Noida authority.

In order to raise money, the authority has been introducing initiatives to sell its plots. According to officials, Yogi Adityanath, the chief minister of Uttar Pradesh, has instructed the authority to bring in as much investment as it can through a variety of programmes in order to boost the local economy and create jobs.

Realtors claim that this plan will only appeal to people who can afford to cover the entire sum in 90 days.

“The Noida real estate market is undergoing a tough time with delayed projects and liquidity crisis. Let’s see if anyone will be able to buy plots under the new rule in which they need to make payment upfront,” said Subodh Goyal, legal committee head of confederation of real estate developers’ association of India (Credai).

CMD of Griha Pravesh Group, Abhay Kumar, said, “The new scheme discourages entrepreneurship because developers with less funds cannot make payment upfront for land cost and also invest in construction at the same time. Only developers with deep pockets can buy land parcels in this scheme.”

See also:
Greater Noida authority launches group housing scheme
TN seeks to rope in Singapore firms for housing projects

A group housing program for realtors looking to construct housing facilities in the city was introduced by the Noida authorities. Sectors 44 and 45, where land costs between 2 lakh and more per square meter, are where the group housing plots are situated. However, in order to purchase the land plots, realtors must be able to pay the land cost within 90 days of allotment. According to officials, the previous payment plan of seven years' worth of installments is no longer valid. The deadline for applications is January 1, 2023, and the program will go into force on December 12th. According to officials, the applicant can purchase the plot through online bidding. Before submitting an application for the program, which provides plots of 14,000 square meters in sector 44 and 20,000 square meters in sector 45, a candidate must first register themselves and then acquire a password. “We have only these two plots on offer in this scheme and other plots will be auctioned in schemes to be launched in future,” said Ritu Maheshwari, chief executive officer of the Noida authority. In order to raise money, the authority has been introducing initiatives to sell its plots. According to officials, Yogi Adityanath, the chief minister of Uttar Pradesh, has instructed the authority to bring in as much investment as it can through a variety of programmes in order to boost the local economy and create jobs. Realtors claim that this plan will only appeal to people who can afford to cover the entire sum in 90 days. “The Noida real estate market is undergoing a tough time with delayed projects and liquidity crisis. Let’s see if anyone will be able to buy plots under the new rule in which they need to make payment upfront,” said Subodh Goyal, legal committee head of confederation of real estate developers’ association of India (Credai). CMD of Griha Pravesh Group, Abhay Kumar, said, “The new scheme discourages entrepreneurship because developers with less funds cannot make payment upfront for land cost and also invest in construction at the same time. Only developers with deep pockets can buy land parcels in this scheme.” See also: Greater Noida authority launches group housing scheme TN seeks to rope in Singapore firms for housing projects

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors...To read the full article Click Here..

Next Story
Real Estate

Serene Communities, Prathima Group Invest Rs 4 billion in Hyderabad

Serene Communities by Columbia Pacific, India’s largest senior living operator, has partnered with Prathima Group to develop two senior living projects in Hyderabad, marking its entry into Telangana. The collaboration represents an investment of Rs 4 billion, combining Serene’s international expertise with Prathima’s local development experience. The first project, Serene BILVANI One, launched in Shankarpally, is Hyderabad’s first premium senior living community. Designed for independent and active ageing, it features senior-friendly architecture, barrier-free design, and wellness..

Next Story
Infrastructure Urban

India remains our most important market

Foundamental, the world’s leading venture capital platform focused on the project economy, has launched its third fund to strengthen its presence in India, APAC, and other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, Fund III aims for a final close by the end of 2025. In an exclusive interaction with CW, Bhattacharya shares insights on the fund’s mandate, India’s role in their strategy, and the opportunities they see in the construction-tech and project-based sectors. Can you briefly explain Fund III’s mandate and how In..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?