be taxed on the deemed rental basis also there could be wealth tax implications for more than one house property says sirwalla and yusufpur chak shahberi according to the plan approved by the greater noida authority the authority requires land for social infrastructure like roads sewerage lines electricity poles and substations etc before launching the group housing and builders residential plots the greater noida authority had allotted 2626 residential plots 162 220 and 300 sq m in sector 3 through a lucky draw in addition the authority also allotted 2593 residential plots of the same size in sector 2