More
than a year after the UP government had issued a gazette notification approving
mixed land use policy in the city, the Noida Authority on September 18 reduced
the conversion rate from 25% to 10% on popular demand and on the lines of a
similar policy being followed in Delhi.
Till
now, allottees owning residential and industrial property could convert it into
mixed land use by paying an 'impact fee' to the Authority, which is 25% of the
cost difference between the prevailing residential or industrial sector rate
and the reserve price of the commercial rate of the area where the property is
located.
However,
the Noida Authority board has now approved the reduction in the conversion fee
to 10%. "The same formula will be used for conversion to mixed land use
for both residential and industrial properties. But the impact fee will have to
be paid in lump sum," said Rama Raman, chairman of Noida Authority.
Electric and water charges will also be applicable as per commercial rates,
officials said.
Raman
said the conditions of the rest of the existing policy remain unchanged. As per
the policy, the amended building regulation of Noida envisages mixed land use
permitting commercial activity in residential and industrial plots situated on
24-metre-wide roads. While guest houses and banks will be allowed on a
residential plot, auto showrooms, art galleries and museum will be permitted on
industrial plots.
Mixed
land use is currently allowed on 25% of permissible FAR on the ground floor of
industrial plots. Guest house and banks are permitted on all floors up to
permissible FAR limit on residential plots. The policy also allows certain
support facilities to allottees after conversion to mixed land use as per
prevailing building and zone regulations of Noida's Master Plan-2031.
For
industrial plots these include office, bank, showroom for display/sale of
industrial goods manufactured in the unit, gym, health club, creche, day-care
centre. Internet cafe, dispensary, and taxi and auto rickshaw stand.
Support
activities for residential plots include office, canteen, personal service
shop, bank, ATM, creche, health centre and dispensary. Allottees will have to
provide parking provisions within the premises as per provisions of Noida’s
building regulations.
Source:
Magicbricks
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