2000 affordable flats will be soon constructed in Greater Noida

By Accommodation Times News Services

building in societyThe Greater Noida Authority is soon launching new ‘affordable’ housing scheme this year on its foundation day on January 28. As per the authorities, 2,000 flats will be constructed under the scheme in builders’ area and Sector Pi in Greater Noida. They will soon launch a commercial scheme too. Explaining the Rs 150-crore scheme, a senior Greater Noida Authority official said, “Each 350 square-feet flat would cost Rs 7-8 lakh.”

“The land for the development of housing is in builders’ area and Sector Pi, and we are working on further approvals needed for it. The launch date has not been finalized yet but we hope to launch it very soon,” said Harish Verma, additional chief executive officer, Greater Noida Authority.

The Greater Noida and Yamuna Expressway authorities are set to construct 12,000 flats in the next three years. The authority last year had launched a housing scheme of 7,000 flats of 300 square feet each. The flats would be developed in sectors Mu-2 and 10 in Greater Noida,” Verma said.

The low-rise blocks will be spread over the project area having state-of-the-art infrastructure facilities including community centre, shopping complex, parking, kiosks, school, nursing home, playground and parks, said the authority officials.

“The entire structure will have permanent finishing and there will be no need of painting the building. The project also has provision for garages considering the ever rising number of vehicles in the city,” the official said.


“We have already had a word with some banks which have given in-principal approval to sanction loan up to 90% of the total flat cost. Talks to avail 100% finance are also on,” the official added. The authority also plans to launch a commercial scheme soon. “Apart from shops in newly developed Delta 1 sector, kiosks and shops in other markets will be launched under the scheme,” the official said.

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