Land in Greater Noida up for grabs for commercial purpose one last time
The Greater Noida authority has come up with a commercial plot scheme offering individuals and realtor companies an opportunity to buy land to build shopping malls, hotels and other commercial buildings. According to officials, this will probably be the last scheme the authority offers for building shopping malls as there is no more land left to be allotted for commercial purposes in Greater Noida.
The authority said that it will allot 31,328 square metres of land (divided into nine plots) and aims to collect a revenue of ₹139 crore via the scheme. Interested applicants can download forms from September 16 to October 8. The last date to submit the application is October 12, said officials. The authority will organise an auction for these plots on October 25.
“The auction will provide opportunities to applicants to place their bid and buy the commercial plot in Greater Noida, where international and domestic investors are eager to invest,” said Narendra Bhooshan, chief executive officer of the Greater Noida authority.
The authority will auction plots in Sector Delta 2, Sector 36, Gamma 2, Eta 1, P4 and Sector Pi1. The reserve prices for these plots range from ₹44,190 per square metre to ₹46,190 per square metre.
These plots range from 1,200 sqm to 7,455 sqm in size. The size of the plot in Sector Delta 2 is 1,200 sqm, Sector 36 is 2,356sqm, Gamma 2 is 2,782 sqm, Sector Eta1 is 7,455sqm, the size of two plots in P4 3,125sqm and 3,153sqm. There are three plots in Sector Pi1 sized 2,500sqm, 4,374sqm and 4,376sqm.
As per the rules, an applicant is supposed to place a bid over the reserve price and whoever places the highest bid will get the plot.
The authority said that the scheme will benefit residents as they will get shopping malls and hotels in their respective neighbourhoods. These plots are located in residential areas where people are in need for shopping options, said officials.