Noida relaxes payment conditions for obtaining bigger industrial plots

NOIDA: Industrial allottees who are offered plots in Noida’s will no longer have to make one-time payment to secure adjacent unutilised land. The Noida Authority said that money for plots that are 10% bigger than what had been promised could be paid in instalments. The decision will reduce the discomfort of people who have booked industrial plots in the under-construction Phase II of the city.

Authority OSD Avinash Tripathi said, “While planning new sectors, at times the layout of a sector has to be revised after development work. Some small chunks that are left between plots are offered to adjacent plot holders. However, money for securing such land has to be paid upfront besides the land premium for the allocated plot. Now half the money will be taken in instalments and the remaining have to be paid upfront.”

The Noida Authority is gearing up to add more than 900 acres of land in the Phase II industrial area by the end of this fiscal and is expected to launch a scheme soon to allocate plots in the developing sectors. Since the Authority carries out development work around the time a scheme is launched, factors such as development of roads, drains and sewerage construction alter the size of the plots.

“The Authority thrusts extra space on the allottees in case land is left unutilised adjacent to the allocated plots. And allottees were asked to pay up the amount in one go. The allottees got a raw deal in the process,” said an allottee of an industrial plot in Sector 151.