Property Development in India’s Potential Smart Cities Noida and Greater Noida

If all goes according to plan then Noida and Greater Noida, the twin cities of Uttar Pradesh could be the first smart cities of India according to the Greater Noida and Noida Authorities. The new central government is also keen on developing smart cities in the country and have sanctioned 100 of them already. However, according to the Noida Authority, almost 70 percent of the criteria have already been fulfilled by Greater Noida and Noida.

Residents of Noida have been offered a citizens’ portal by the Noida Authority. The Authority is focusing all its energy in making Noida the smart city of the country. Residents of Noida shall be supplied water from the Ganga now. However, in terms of good public transport and extension of the metro line, a lot has to be done. The Authorities are currently working on recycling methods for garbage of Noida and Greater Noida.  The Authority claims that Noida is the sole city of the nation which has laid down drainage and sewage network in 82 villages under it. The two cities also have hospitals, wide roads, a Formula One track, metro connectivity and parks. The Authority wants to make Noida and Greater Noida eligible for central government funds set aside for smart cities. According to the Authorities, if the twin cities receive the Rs 1000 crore funding from the central government, then they will invest it in building better infrastructure including the metro railway. 

The twin authorities of Greater Noida and Noida have started schemes for commercial property in Noida for investors and entrepreneurs. The plots range from 80 sq. m. to 372 sq. m. in Noida and kiosks and shops in Greater Noida. August 25 onwards, the brochures related to the schemes shall be made available in designated banks. On September 15, the scheme will close in Greater Noida and on September 24, it will close in Noida. These plots are being provided in residential, industrial, commercial and institutional areas of Noida and Greater Noida and they include important sectors such as 1, 12, 18, 16 and 20.  The kiosks and shops in Greater Noida are located close to Swam Nagri and Sector Delta. Some of the plots on offer now were a part of previous schemes.

The Noida Authority has also launched a scheme for residential plots for farmers. There are 774 plots on offer each measuring 162 sq. m. in sector 151. The lands are being offered to those who acquired them from the government post 1976 but prior to 1997. The farmers plot scheme brochures have already been made available and the scheme would close on 2^nd September. The scheme has been started for 3500 peasants whose lands were acquired by the government before 1997 for urbanization, was first started in 2011’s July. However, it got scrapped midway post a controversy regarding those who were included in the list of beneficiaries. The scheme was started in 2013’s October but had to be postponed again.

Property in Noida can now be bought under the village Kota Plots or 5 percent Kisan Plots too. The city is not new to the idea of these kinds of plots but their demand has risen over the past couple of years among buyers.

Currently, the Kisan Kota or village Kota plots available in Noida are reasonable and attractive. 

What are these Kisan Kota Plots?

Kisan Kota or Village Plots are those ones that have been given to farmers as compensation by Noida Authority. The total numbers of plots allotted to farmers as compensation forms only 5 percent of what was acquired by the government for the purpose of urbanization. Under the scheme, roughly 5 percent of the total land available in a developing or developer sector of Noida is allotted to a farmer.

After completion of certain formalities, a farmer can get these plots allotted in their name. Some amount also needs to be paid by the farmer in order to obtain the letter of allotment from the development authority. The plots are usually given in new sectors or areas where the Authority has been entrusted the responsibility of developing the area.  Some of the development works that Noida Authority has carried out in areas allotted to farmers are lying of drainage and sewage lines along with electricity and water supply and road development. 

Location of these Properties 
If you want residential plots in Noida within a budget of Rs 20 lakhs or so, multiple options are available for you. Sectors 70 to 72, 63A, 116, 105, 122, 121 and 132 are those sectors in which residential Kisan Kota plots are allotted. You can get village plots which have a minimum starting amount of Rs 50,000 for a sq. m. in Sector 63A. The average size of such plots is 40 sq. m. to 42 sq. m. The price of the same kind of plot begins from Rs 65,000 per sq. m. in Sector 116. What decides the price of a plot is its location.

Why buy Village Kota Plots? 
A major advantage of buying housing Kisan Kota plots in sectors of Noida is that development work has been carried out by authorities and they are more planned compared to the older sectors. They also have a lot of greenery around them. Electricity and water lines along with sewerage are ensured and prospects of infrastructure development in the future are there.

Compared to general or normal plots available in Noida’s other sectors, the Kisan Kota plots can be bought at lower circle rates. As per the Noida Authority, no more than 2 and ½ storeys can be developed here.Sectors which offer Kisan Kota plots are only 8 to 12 kms from the Noida City Centre Metro Railway Station. Also Faridabad-Noida-Ghaziabad or FNG Expressway is located near these areas.

What should you check for before buying Village Kota Property in Noida?

• You must check for the clear titles on the land and ensure that the owner has original        documents in his name.
• The plot must be registered between the farmer allottee and the Noida Authority.
• The land owner should have an NOC up-to-date from water department for water supply and there should be “no dues” account from the Noida Authority.
• Inspect the allotment letter’s originality and other relevant documents of lease such as the possession letter between the Noida Authority and the farmer.