GNIDA To Build 10,000 Flats Under PMAY

The Greater Noida Industrial Development Authority (GNIDA) has decided to build 10,000 affordable homes for the economically weaker sections and low income groups under the Pradhan Mantri Awas Yojna (PMAY). These houses would measure between 245 sqft) and 323 sqft and would be built in sectors 1, 2 and 3 of Greater Noida.
Officials said a survey to select beneficiaries would be conducted from February 1. The state government has given a target to build 50,000 such houses to the three authorities. It has also decided to allow builders to allot 10% of the land use for commercial purposes against an earlier rule of 1% to attract more developers to build these affordable housing.
“We have earmarked sectors 1, 2 and 3 for the affordable houses. They will be built with public-private collaboration under the PMAY scheme. For this, a survey of the beneficiaries will begin on February 1,” said Narendra Bhooshan, the CEO of GNIDA.
With an incentive to allow 10% of the land use for commercial purposes, builders will also be chosen to develop the houses. “The 10% land use for commercial purposes is a great incentive for the developer. The land can be used for building shops and market complexes,” said a source in the Authority.
Under the PMAY scheme, the builder will get a grant of Rs 2.5 lakh for every flat. Of this amount, Rs 1.5 lakh will be given by the Centre and the remaining money will be borne by the state government. The cost of each flat will range from Rs 6 lakh for the EWS and LIG categories. “According to the PMAY scheme, a minimum of 250 flats or 35% of the total number have to be delivered by the builder under the EWS category,” an official said.
The Noida Authority and Yamuna Expressway Industrial Development Authority (YEIDA) will also build flats under the PMAY scheme. Sources said while sectors 145, 152 and 154 may be shortlisted in Noida for such homes, Sector 18 off the Yamuna Expressway is being considered by YEIDA.