Even some time ago, Noida was known as an
affordable residential destination to prospective home buyers. However,
exclusive residential sectors are no more the USP of the city. The Government
of Uttar Pradesh has approved the policy of mix land use in the satellite city
of Delhi, which would allow industrial and residential property owners to make
use of their lands for other purposes. Thus, those who want flats for sale in Noida have better
property options.
However, the approval has been given not
without condition. For instance, a property whose use is to be changed must be
facing a road which is at least 24 metres wide. The property shall be
considered for conversion in use purpose if a service or sector road or green
belt is between the 24 metre wide road and the property. However, buildings are
not permitted. Most of the arterial roads in Noida Master Plan Roads III, II
and I, DSC Road and Udyog Marg are 24 metres wide or higher. Applicants are
also liable to pay “impact fees” to Noida Authority. The approval given to the
policy of mixed land use that was framed in 2013 by the Noida Authority was
announced through gazette notification issued by the UP government on 27th
March.
The policy also has a clause that says industrial and
residential property allottees can convert them for mixed land use by paying a
token conversion cost that has been defined to be 25% of the different between
prevailing industrial and residential sector and the reservation price of
commercial rate of the sector in which the property is situated. The identical
formula shall be used for conversion of mixed land use from industrial and
residential properties. According to Rama Raman, CEO and chairman of the Noida
Authority, the impact fees shall have to be paid as lump sum.
An illustration to calculate impact fee is given below:
Consider a residential plot of 500 sq. ft. If the sector rate is
Rs 100,000 per sq. m for the plot, while the commercial rate is Rs 200,000 per
sq. m, then the conversion rate shall be 25 per cent of Rs 1 lakh, which is the
different between the two rates, multiplied by 500. Therefore, for converting
this plot of 500 sq. m for mixed land usage, applicants shall have to pay Rs
1.25 crores as impact fees.
The floor area ratio or FAR and ground coverage
shall be according to the prime land usage of this plot. Commercial rates shall
be applicable in case of water and electricity. Allottees shall have to give
provisions of parking within the premise according to the provisions made in
the building regulations of Noida. Mixed land use shall be permitted on 25 per
cent of the permitted FAR on the ground floor of industrial property. According
to officials of the Noida Authority, banks and guesthouses shall be allowed on
all the floors till the permitted FAR in case of resale properties in Noida.
The policy shall also give support amenities to allottees after
converting it to mixed land usage according to the current zoning and buildings
regulations of Noida’s Master Plan for 2031. For industrial plots, including
banks, offices, showrooms for sale or display of industrial goods produced in
the units, health club, crèche, gymnasium, day care centres, internet centres,
taxi, dispensary and auto rickshaw stands. Support activities for housing plots
include office, personal service shop, canteen, ATM, bank, health centre,
dispensary and crèche.
The latest policy promotes compact and
contained land use where a single site or building shall have all needed
facilities such as health centres, offices, banks and guesthouse within
boundaries. Globally town planners are advising mixed land use for providing
facilities for play, work and living in the same locality. However commercial
and residential combined use shall be regulated to prevent inconvenience to
residents.
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