The Greater Noida Authority board has approved the launch of a new scheme for the sale of flats in the multi-storey residential complexes located in Sector Omicron One. The brochure, along with the scheme’s terms and conditions, received clearance on Saturday. Applications will be accepted online, and allotments will be carried out through an e-auction process.
Amid an ongoing shortage of funds affecting the upkeep of basic infrastructure, the Authority has approved the creation of a dedicated corpus fund to ensure Greater Noida’s long-term maintenance. CEO NG Ravi Kumar initiated the proposal, emphasising the need to safeguard city infrastructure and green spaces.
The fund, secured in a nationalised bank, will be built through revenues from lease rent, purchasable FAR fees, restoration charges, and time extension fees. It will be used to maintain essential services such as roads, drainage systems, sewer lines, electricity networks, and parks. Utilisation of the fund will require board approval and the CEO’s consent.
The Authority has also cleared the way for the operation of e-cycles in Greater Noida to improve mobility and promote an eco-friendly commuting option. The project will be implemented on a Build-Operate-Transfer (BOT) model.
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The selected agency, chosen through an e-tender, will be allotted 25 square metres at designated locations to set up cycle stations within the stipulated timeframe. All installation and operational expenses will be borne by the tendering agency.