Noida Authority set to allot 600 flats to LIG, EWS
The Noida Authority has announced an exciting offer of launching 866 flats this Diwali. The flats will be allotted to people belonging to various income groups though the lower income groups will be allotted more number of flats.
The civic body had launched a residential scheme earlier in 2006-2007, in which it had developed and allotted flats to people. Many flats had been lying vacant since then. The Authority had conducted a survey in the last month to find out the unallotted flats which are lying unused for many years. These flats are now being allotted in the Diwali offer.
Distribution of flats
Of these flats, around 600 flats will be earmarked for the low-income group (LIG) and economically weaker sections (EWS) categories. The remaining flats will be allotted to the middle-income group (MIG) and high-income group (HIG) categories.
Location
The 600 flats meant for the LIG and EWS people are located in Sectors 55, 66, 71, 73, 93, 110 and 135. The location of flats earmarked for high and mid income group has not been disclosed by the authority yet.
Price of flats
The civic body has not yet decided the price of flats under each category, said Akhilesh Singh, deputy chief executive officer (DCEO), Noida authority. But shortly the cost will be finalised and also the date from when applications will be issued will be announced, he added.
Official sources said that the rates of these flats will be cheaper in comparison to the prevailing market rates and this will benefit prospective homebuyers. The finance department of the civic body is in the process of setting the rates for flats, said sources.
Impact of festive season
As the inventory levels have gone up due to market slowdown, this festive season has witnessed too many offers in the real estate market. Many private developers have been offering discount prices and other freebies, ahead of Diwali, a time which registers high number of sales in India. However, at such a situation, it is clear that the authority has to quote a very low price to clear its vacant flats.
How the flats will be allotted?
First the applications will be invited from people under this flat scheme. The Authority will conduct a lucky draw on Diwali and the winners will be given the flats.
Other schemes
The Noida Authority has recently allotted some shops under another scheme while a scheme of allocating industrial plots is also coming up.
Meanwhile, the civic body has planned to launch another scheme of 501 shops in its Transport Nagar project being developed in Sector 69. The scheme was first proposed to be launched on October 15 but, was delayed due to the protest call by transporters and farmers. The size of the shops meant for office and commercial purpose is 120 square metres.
