Noida authority approves 1-time lease proposal

Noida: The Noida Industrial Development Authority on Wednesday approved the one time lease rent proposal which was being demanded since long by various residential welfare associations of Noida including Federation of Noida Resident Welfare association (FONRWA).

"The authority board has approved to resume one time lease rent Scheme for allotted assets with a onetime charge of 15 times annual lease rent. So now interested Noida residents can pay one time lease rent at 15 times annual cost and stay without making any further payment for next 99 years" a senior authority official told reporters.

In order to benefit its employees, the Noida authority board has also given nod to implementing 7th pay commission recommendations for its employees. The authority has also passed resolution to make necessary purchases from Government's e-market portal (Gem).

Apart from this the authority also took some important decisions in order to boost the industrial sector in the city. The authority has re-launched the lottery scheme for allotment of plots over 4 thousand square meter size. The allotment of these plots will be done through screening or allotment scheme procedure.

Also authority has decided to release allotment letter for only those land areas which have been already taken under possession. The allotment of plots measuring 5 acre or more will be done both online and offline ways. Regarding Transport Nagar scheme coming up in sector 69 and the price has fixed at 24060 per square meter. Previous allottees can also take benefits under this scheme if they agree to existing norms.

The decisions were taken in Noida Authority's 193th board meeting held on Wednesday.