DELHI: Finding no takers for developing institutional properties in the city, Noida Authority has decided to allow such plot owners to sell a portion of the land for residential use. This decision will help offer more housing projects in the region.
Authority officials said there are 1,200 institutional plots in Noida, with the large ones located along Noida-Greater Noida Expressway. Despite being in a good location, there are no takers for institutional projects as compared to commercial and residential ones. As part of planned development in the region, Authority officials formulated this new idea to increase the demand for such plots. Suggestions of the general public and developers were sought on the issue. After getting positive responses, the Authority finally made the changes.
Noida Authority deputy CEO, Akhilesh Singh, confirmed that changes have been incorporated to increase the demand for institutional plots. “There was some confusion over allowing residential use in institutional plots. Now, the residential portion can be constructed on large institutional plots but only to a certain level,” Singh said.
“At the time of the sub-lease, the Authority will crosscheck whether rules and lease deed conditions have been followed or not,” he added.
In large institutional plots, 10% residential, 10% commercial and 5% for other facilities is reserved. The lease deed for institutional projects has been categorized in three parts depending on the size of allotted plots. The sub-clause (b) of clause 21 of the lease deed says that the lessee developing projects on 10 and 20 acres would be permitted to use 10% FAR. However, sub-clause (c) cites that developers with plots of 20 acres or above are allowed to use the 10% FAR for residential use
In the absence of guidelines for residential portion in institutional plots, confusion among the departments in Noida Authority was leading to chaos. To streamline the situation, the Authority has laid fresh guidelines.