The Greater Noida Development Authority (GNIDA) has launch of two new housing schemes on 10 July 2023, inviting applications for the allotment of built-up houses and apartments. The schemes, namely Scheme Code: BHS-18/LOH-02 and BHS-17/LOF-04, offer a great opportunity for individuals and families to fulfill their dream of owning a home in the well-planned city of Greater Noida.
The scheme’s online registration process commenced on 10th July 2023, with the opening of the application form window on 17th July 2023. As per the official announcement, interested applicants have until 31st August 2023 to apply for their preferred housing unit under these schemes.
Greater Noida Housing Scheme Code: BHS-18/LOH-02
The first scheme, BHS-18/LOH-02, offers independent houses in the highly sought-after sectors of Greater Noida – Sector XU-02 and Sector XU-03. These houses come with state-of-the-art amenities and are meticulously designed to provide residents with a comfortable and modern living experience.
Prospective homebuyers can choose from 76 beautifully constructed houses available for allotment under this scheme. The price of each house is set at Rs 73.41 lakh, making it an attractive option for those looking to invest in their own piece of property in Greater Noida.
Greater Noida Housing Scheme Code: BHS-17/LOF-04
The second scheme, BHS-17/LOF-04, caters to individuals seeking residential apartments in various sectors of Greater Noida. These apartments are available in different configurations, including 1BHK, 2BHK, and 3BHK units, catering to the diverse needs of homebuyers.
This scheme has a variety of housing options available. Prospective buyers can choose between multi-storied towers and low-rise built-up flats with G+3 floors, based on their preferences and lifestyle requirements. The prices of these apartments start from an affordable Rs 10.17 lakh for 1BHK units and go up to Rs 83.85 lakh for the more spacious 3BHK apartments.
Greater Noida Housing Scheme Application Cost & Payment Plans
To apply for the housing scheme, there is an application fee of Rs 5,000 and a registration amount equal to 10% of the property value for which application is made. While the application fee is non-refundable, the registration money is adjustable against the future payments for successful applicants and refundable for the rest.
Homebuyers will get flexible payment options for the housing schemes, Scheme Code: BHS-18/LOH-02 and BHS-17/LOF-04. Buyers can choose between Cash Down Payment Plan and 2-year or 4-year Instalment Payment Plan to own their dream homes in Greater Noida.
Cash Down Payment Plan: Under the Cash Down Payment Plan, homebuyers have the option of making a one-time payment of 100% of the total premium within 90 days from the date of the Allotment Letter. This payment can be made after adjusting the registration money paid at the time of application.
Instalment Payment Plan (2 Years): For those seeking more time, there are two options in the Instalment Payment Plan. Homebuyers can make a partial payment of 50% of the total premium within 60 days from allotment. The remaining 50% of the premium amount can be paid in 2 years through 4 half-yearly instalments.
The 50% balance amount shall carry an interest rate determined by the State Bank of India Marginal Cost of Funds Based Lending Rate (MCLR) plus 1%, rounded off to the upper side up to 0.5%.
Instalment Payment Plan (4 Years): Another instalment plan allows buyers to pay 30% of the total premium within 45 days of allotment and the remaining 70% over the course of 4 years through 8 half-yearly instalments.
Like the other instalment plan, the 70% balance amount under Option 3 shall also carry an interest rate of State Bank of India MCLR+1%, rounded off to the upper side up to 0.5%. The interest will be applicable on 1st July and 1st January of each year. Defaulting on instalments or lease rent will incur an additional 3% interest on (MCLR+1%).