The Noida Authority has announced a significant new commercial plot scheme offering eight plots totaling over 1.6 lakh square meters in Sector 25A. The plots collectively carry a reserve price of Rs 3,103 crore, as published by the The Economic Times.
Key Details
These plots, designed for large-scale commercial projects, vary in size from 17,645 square meters to 25,572 square meters. Each plot has a Floor Area Ratio (FAR) of 4.5 and allows for 45% ground coverage. The reserve prices for the plots are structured as follows:
- Three mid-sized plots measuring 17,645 square meters each, priced at Rs 1.86 lakh per square meter, with a total reserve price of approximately Rs 328 crore each.
- A larger plot of 23,160 square meters, priced at Rs 1.83 lakh per square meter, with a total reserve of Rs 425.8 crore.
- Two expansive plots of 25,572 square meters, also priced at Rs 1.83 lakh per square meter, with a total reserve of Rs 468.25 crore each.
- A plot measuring 22,780 square meters is priced at Rs 1.83 lakh per square meter, bringing its total reserve to Rs 419.1 crore.
Bidding Process
Bidding for these plots will open on October 29, 2024, and will close on November 22, 2024. Bidders are required to pay a non-refundable processing fee of Rs 5.9 lakh and an earnest money deposit (EMD) ranging from Rs 32 crore to Rs 46 crore, depending on the plot size.
The plots are strategically situated near essential urban infrastructure, including the Noida Stadium, City Centre Metro Station, and major roadways, making them attractive options for developers looking to capitalize on Noida’s rapidly expanding commercial landscape.
Greater Noida Authority’s Institutional Plot Scheme
In conjunction with this announcement, the Greater Noida Authority has introduced a new institutional plot scheme that includes 12 plots covering over 50,000 square meters, with a total reserve price of Rs 163 crore. These plots are designated for educational and healthcare facilities, including:
- Two plots for senior secondary schools,
- Two plots for hospitals,
- One plot for a nursing home,
- Seven plots for vocational training institutes.
The senior secondary school plots measure 10,000 square meters and 6,200 square meters and are located in Knowledge Park 5. The hospital plots include one of 10,005 square meters in Sector MU and another of 4,439 square meters in Sector 10. The nursing home plot measures 2,511 square meters and is located in Sector Eta-2. The vocational and educational institute plots vary from 1,000 square meters to 4,000 square meters and are spread across Techzone IV, Knowledge Park 1, and Knowledge Park 5.
Applications for the institutional plot scheme opened on October 24, 2024, with registration closing on November 16, 2024.