The Noida Metro Rail Corporation (NMRC) has invited developers to bid on three commercial plots near the Okhla Bird Sanctuary metro station.
As reported by the The Times of India, these plots, covering a total of 44,151 square meters, are strategically located next to high-profile sites, including Supertech’s Supernova and Amity University, making them prime real estate for commercial use.
NMRC operates the Aqua Line, a 29.7-kilometer metro route connecting Sector 51 in Noida to Depot Station in Greater Noida. Since its launch in January 2019, the Aqua Line has seen substantial growth in ridership, jumping from 18,000 passengers per day in 2019 to 55,000 passengers daily in 2024.
The corporation stated that it owns these commercial plots near the Okhla Bird Sanctuary station and is seeking to develop them through a public-private partnership (PPP) model. In its expression of interest (EOI), NMRC highlighted the growing trend in global transportation systems where revenue from commercial property development is used to finance infrastructure projects.
One of the key plots, identified as Plot FC 04 in Sector 94, is earmarked for development. NMRC aims to select a suitable developer, concessionaire, or licensee through an open bidding process to manage the project. According to the Noida Master Plan and Noida Building Byelaws 2010, the plots are designated for commercial use. The lease term extends up to 60 years from the execution date, with an expectation that buildings will be designed to last at least 100 years.
NMRC’s EOI targets developers with proven experience in commercial real estate, including project management, financing, design, leasing, and marketing. The goal is to attract firms that can bring innovation and sustainability to the project, ensuring long-term revenue generation.
The location near the Okhla Bird Sanctuary metro station is considered a high-demand area for both commercial and residential development, given its proximity to key urban and educational landmarks. NMRC officials stated that they expect experienced firms to propose innovative designs that will complement the surrounding infrastructure while also benefiting from the increased connectivity offered by the Aqua Line.
In summary, NMRC’s call for developers represents a significant opportunity for firms to contribute to Noida’s rapidly expanding commercial landscape while capitalizing on the area’s growing ridership and strategic positioning near major urban centers.