In order to provide affordable flats to lower middle class families, Greater Noida Authority and Yamuna Expressway Authority will construct 10,000 and 5,000 flats in their respective regions.
The authorities will launch the schemes in August after the approval of ‘Master Plan 2031’. The construction work is likely to begin by the end of this year. Both projects are expected to be completed within two years.
An announcement to this effect was made after separate meetings of senior officials of Greater Noida Authority and Yamuna Expressway Authority were held recently. Tender will be floated within two months. Greater Noida Authority has decided to construct these flats near Sports City, while Yamuna Expressway Authority has chosen Sector 10 of Yamuna Expressway area for this purpose.
According to the officials, floor area of flats will be of approximately 30 metre square and each building will have four floors. The cost of the flats of Greater Noida Authority is likely to be fixed between `6 to `7 lakh each, while the cost of flats of Yamuna Expressway Authority is expected to be lesser. The authorities will also develop civic infrastructures, like schools, playgrounds, commercial complexes, parks, parking, community centres and health centres in the region.
“We have proposed the plan keeping in view lower middle class people, who cannot afford costly homes in and around the district. With the completion of the project, these people could purchase their own homes in the region. The flats will be made available at lower prices in comparison to previous affordable housing schemes,” said Harish Verma, Additional CEO of both authorities.