500 residential plots up for sale in Noida

We are likely to introduce the new scheme after the completion of all given procedures. RITU MAHESHWARI,

CEO, Noida authority

NOIDA: The Noida authority is set to introduce a residential plot scheme next month for people who plan to build individual bungalows or villas. It will offer at least 500 plots in well-developed sectors, officials said.

The authority has readied 250 plots measuring 112 square metres (sqm) to 400sqm in Sector 151, adjacent to the Golf Course. It is also developing an 18-hole golf course along the Noida-greater Noida Expressway in Sector 151. The remaining 250 plots are located in already developed sectors. These plots measure 250sqm, 300sqm and 450sqm and will be allotted after a competitive bidding that will be conducted online, sources added.

Whosoever places the highest bid for a plot will become eligible for the same, said

The 250 plots in Sector 151 have been carved out from government land that was acquired by the authority.

“We are likely to introduce the scheme after completing all procedures. We will first take necessary approvals in our board meeting that will take place soon,” said Ritu Maheshwari, chief executive officer (CEO) of the Noida authority.

In Sector 151, the reserve rate for the plots is ₹47,000 per sqm.

In other parts of the city, the rates are in the range of ₹50,000 per sqm to ₹1.5 lakh per sqm, depending upon the sector.

“These plots will be allotted via online bidding and the highest bidder will get them,” said Jyotsana Yadav, officer on special duty at the Noida authority.

The residential plot scheme is expected to be launched by the end of May this year after the board meeting finalises all requisite approvals.