The Greater Noida Industrial Development Authority (GNIDA) has auctioned 64 residential plots for Rs 141 crore, which is approximately three times the base price of these plots, highlighting the real estate potential of the industrial and commercial township near Delhi.
The base price of these plots was Rs 48.87 crore, translating into an additional revenue of around Rs 92.84 crore for GNIDA, which launched a scheme for the phased auction of 166 residential plots on January 20.
According to officials, the first auction was held on March 26 where 26 plots were sold for Rs 51.86 crore at three times the reserve price of Rs 18.22 crore.
Similarly, 38 plots were e-auctioned in the second round on March 27. The reserve price of these plots was Rs 30.65 crore while these were e-auctioned for Rs 89.85 crore.
The e-auction will continue till March 30 during which all 166 plots will be allotted. The reserve price for the 166 residential plots ranges between Rs 34,000 per square metre and Rs 43,000 per square metre. The plot size ranges between 162 sq metre and 738 sq metre.
These plots are located across seven sectors in Greater Noida including sector 2, Chi 3, Phi 3, Delta 2, Delta 3, Sigma 1 and Sigma 2.
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GNIDA CEO Ritu Maheshwari said that plots were e-auctioned at approximately triple the price of these land parcels which shows that Greater Noida is not only a hub for commercial and industrial investment but also people are keen to invest in residential plots too.
GNIDA Additional CEO Anand Vardhan said, “Plots measuring up to 220 sq metre have been allotted in the first two phases of the e-auction. Larger plots will now be included in the remaining phases of e-auction.”
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He said 142 plots measuring 220 sq metre each are located in sector 2. The sector 2 area also has 15 plots of 162 sq metre.
Similarly, 15 plots measuring 500 sq metre and one plot having an area of 738 sq metre are located in sector Chi 3. Four residential plots measuring 350 sq metre are located in sector Phi 3, two plots of 200 sq metre in sector Delta 2 and two plots measuring 350 sq metre in Delta 3.