New scheme offering 1,000 residential flats in Gzb

The scheme has been planned to be open for the public from February 12th and the last date to file an application is set as March 12th 2018.

According to officials of the Authority, the scheme will offer flats for Economically Weaker Sections (EWS), mini middle income group (MIG) and lower income group (LIG) flats in low-rise four floor buildings.

Meanwhile, two-BHK and three-BHK apartments will be situated in multi storey buildings.

"These flats will be located in Madhuban-Bapudham and Modinagar area. Around 96 of these flats are single-room apartments and will be located in Kaushambi area of Ghaziabad. The flats will be available in different categories and sizes, starting from 27.87 square metre to 174 square metre," a GDA official said.

The official further said that the application for these flats can be filed in selected banks after submitting the application fees.

The authority has set Rs 300 as application fees for EWS flats. For all other categories, the fees will be Rs 1,100.

The Authority has also uploaded all necessary details regarding the scheme on it's official website, the official added.

As per the scheme, once the flat is successfully allotted, an allottee needs to make 20 per cent of the total payment within one month.

The remaining 80 per cent payment can be made in 12 quarterly installments within next three years at an interest rate of 12 per cent.

This payment plan applies only for the flats under Madhuban-Bapudham and Kaushambi scheme.

Meanwhile, for the Modinagar scheme, the payments can be made 80 quarterly installments for 20 years at an interest rate of 7.5 per cent.