Yamuna expressway is said to be one of the up-growing real state areas, that offers a wide range of commercial and residential projects. Most of the investors have taken a keen interest in this hotspot as it provides many future opportunities and growth. While the development near the expressway is continuing with its pace. It certainly would give impetus to the demand for residential property. Even popular builder for instance “Oasis Grandstand” has also been a part of the Oasis Grandstand project located near the expressway. Due to this, many dealers have also started offering lands in Yamuna Expressway plots for sale.
However, when it comes to the procedure of registering the residential plot in Greater Noida or Yamuna Expressway, it is quite time-consuming. Therefore, the following article will give a clear and simple idea of how a registration criterion or process takes place:
How you can apply?
Firstly, you would need to purchase the application form, which would cost you around Rs. 1100/- for cum-processing fee. Although, the form can also be downloaded from Yamuna Expressway Authority. While filling out the application form, make sure that you are submitting the required 10% of registration money is submitted to the listed banks. If your application form is duly completed and signed along. All the processes must be completed before the closing date of the scheme.
Furthermore, the applicants after going through the eligibility criteria should remember to apply the form attached herewith along with Demand Draft/Pay Order on account of registration money. While you also need to mention that you have drawn the money in favor of “Yamuna Expressway Industrial Development Authority” that is payable at New Delhi/Greater Noida/ Noida.
Common Eligibility Criteria
The applicant must be an Indian citizen, possessing the responsibility to contract, and should have attained the age of majority.
Furthermore, applicants should not be bearing any earlier allotted plot/flat. on leasehold, in full or in part, under HPTA (Hire Purchase Tenancy Agreement). This must be considered under the license agreement by the Yamuna Expressway Industrial Development Authority. Either in her/her name or his/her spouse’s name or in the name of any minor.
Apart from this, the applicant, his/her spouse or his/her dependent children have the right to apply for one Plot/Flats only.
Complete Procedure of Allotment
Allotments would be made based on the draw of lots within each eligible category. The first draw of allotments would be conducted to select the successful applicant for the concerned allotment.
After the completion of the internal development of the plot or structure of the flats. The draws of lots for allotment of specific Plots/Flats to the applicants would be considered.
For the rest of the applicants, who have not been allotted Flats/Plot, their money will be returned without any interest.
It is mandatory to deposit almost 10% of the total premium of the flat/plot with an application form as a means for registration money.
The Applicants can pay 20% of the total premium within 45 days from the initial date of allotment. As a form of allotment money.
The rest 70% of the balance, must be paid in Twelve equal half-yearly installments. Calculated from the 46th day from the date of allotment. With this, the interest shall be charged @12% p.a. on a certain reducing amount at the end of each half-yearly.