The Greater Noida Authority has announced a significant real estate opportunity for homebuyers in the National Capital Region. The authority is set to conduct an e-auction of 90 residential flats located in Sector Omicron 1A, with the auction scheduled for January 28, 2024.
Property Details and Pricing Structure
The flats available for auction are situated on two specific floors of the building complex. Prospective buyers can choose from units located on either the 1st floor or the 15th floor of the residential tower. Each apartment offers a carpet area of 83.38 square metres, with a super area measuring 104.7 square metres, providing comfortable living spaces for families.
The reserve price for these flats has been strategically fixed based on their floor location. Units on the 1st floor carry a reserve price of Rs 73.2 lakh, while those on the 15th floor are priced slightly higher at Rs 74.3 lakh. This pricing differential reflects the premium typically associated with higher-floor apartments in residential complexes.
Registration and Payment Options
Interested applicants have a generous window to register for this housing scheme. The registration process will remain open until February 18, 2024, giving potential buyers ample time to complete their documentation and financial arrangements.
The Greater Noida Authority has introduced flexible payment options to accommodate different financial capabilities. Buyers can choose between two payment methods:
- Full upfront payment at the time of purchase
- Four instalments spread over a two-year period
This flexible payment structure aims to make home ownership more accessible to a wider range of aspiring homeowners.
Strategic Location and Connectivity Advantages
Sunil Kumar Singh, Additional Chief Executive Officer of the Greater Noida Authority, emphasized the strategic advantages of Sector Omicron 1A's location. "The sector benefits from direct connectivity to a 130-metre-wide road, ensuring seamless access to various parts of Greater Noida and beyond," Singh explained.
He further highlighted the scheme's particular appeal to residents seeking established housing options in Greater Noida. "Since these flats are already constructed, successful bidders can expect possession soon after completing the allotment and lease deed formalities. This offers immediate relief from rental expenses and provides a ready-to-move-in solution," Singh added.
Authority's Commitment to Efficient Allotment
NG Ravi Kumar, CEO of the Greater Noida Authority, has directed the property department to expedite the allotment process for these flats. This directive aims to ensure optimal utilization of the existing housing stock while providing timely benefits to successful applicants.
The e-auction initiative represents the authority's commitment to transparent property allocation processes and efficient management of residential assets. By leveraging digital platforms for the auction, the authority aims to reach a wider audience of potential buyers while maintaining procedural integrity.
This housing scheme comes at a time when demand for ready-to-move-in properties remains strong in the NCR region. The combination of established infrastructure, flexible payment options, and immediate possession potential makes this auction particularly attractive for both first-time homebuyers and real estate investors looking for opportunities in Greater Noida's growing residential market.
