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Good news for Buyers of Government plots in Greater Noida; on Saturday GNIDA (Greater Noida Industrial Development Authority) officials announced that from now onwards, those who want to invest in plots less than 4,000 sq. meters will no longer have to explain their purpose to the authority. However, if for a single plot there are multiple buyers, they will use the draw method to finalize the name.

Giving more information about the new announcement, GNIDA chairman Anup Chandra Pandey said, “Until now, interviews of buyers were held before allotting plots less than 4,000 sqm. This has now been changed. On the other hand, when multiple applicants will apply for a single plot, the allotment will be made through a draw of lots.”

He further said that the details of plot available with GNIDA will be uploaded on their website so that a buyer can easily apply online.

Pandey also added that if an adjoining unit is available with the GNIDA and the buyer wants to extend the project to that plot then such applicants will be given priority. Also, those applicants who will be interested in one-time payment will also be given priority. Moreover, in case two or three applicants are interested in making a one-time payment for a particular plot at the same time then a draw will be conducted for them. One-time payment (approx. 90%) buyers will also be given a benefit of 5% on the overall cost of the plot.

Till now, buyers have to explain to GNIDA officials, the utilization of land and the project they are planning to set up on them. Also, from now onwards, buyers will be allowed to apply for specific plots, which was earlier not possible.