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HindustanTimes Sun,20 Apr 2014

Noida to sell 162 hectare land to private developer

Darpan Singh, Hindustan Times  Noida, March 11, 2011
First Published: 00:13 IST(11/3/2011) | Last Updated: 00:14 IST(11/3/2011)

Noida authority will seal the City Centre deal on Friday. The Authority will sell about 162 hectares (6 lakh sqm) of land comprising two entire sectors (32 and 25A) to a single developer. On Thursday, three real estate firms — Wave, Amrapali and 3 C — participated in the financial bidding and submitted their proposals.

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Authority chief executive officer (CEO) Rama Raman said, “We’re examining the proposals on the basis of our parameters. A committee has been formed for the purpose. The winner will be announced — most likely on Friday.” 

The base price for the chunk is hovering around Rs7,000 crore. Authority sources say the deal will be sealed  for around the same amount.

Wave Inc, a real estate firm owned by UP liquor baron Ponty Chaddha, is said to be the front runner. The developer chosen will sell out commercial plots after developing them.

Early this month, the three companies and Noida authority officials got through the process of technical bidding. The authority hired a consultant to check the technicality viability of the proposals.Noida authority will seal the City Centre deal on Friday. The Authority will sell about 162 hectares (6 lakh sqm) of land comprising two entire sectors (32 and 25A) to a single developer. On Thursday, three real estate firms — Wave, Amrapali and 3 C — participated in the financial bidding and submitted their proposals.

Authority chief executive officer (CEO) Rama Raman said, “We’re examining the proposals on the basis of our parameters. A committee has been formed for the purpose. The winner will be announced — most likely on Friday.” 

The base price for the chunk is hovering around Rs7,000 crore. Authority sources say the deal will be sealed  for around the same amount.

Wave Inc, a real estate firm owned by UP liquor baron Ponty Chaddha, is said to be the front runner. The developer chosen will sell out commercial plots after developing them.

Early this month, the three companies and Noida authority officials got through the process of technical bidding. The authority hired a consultant to check the technicality viability of the proposals.

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