The Greater Noida Industrial Development Authority (GNIDA) has unveiled a new scheme offering 22 commercial plots, ranging from 1,500 to 19,000 square metres, through an e-auction. With the upcoming Noida International Airport driving land demand, this initiative presents a rare opportunity for realtors. Registrations began on 29 August 2024 and will close on 19 September 2024. The plots, located in prime sectors, vary in Floor Area Ratio (FAR), offering flexibility in development. Allotments will be leasehold for 90 years, with the revenue directed towards Greater Noida's infrastructure development.
The Greater Noida Industrial Development Authority (GNIDA) has launched a new scheme offering 22 commercial plots, each ranging from 1,500 to approximately 19,000 square metres. GNIDA will allocate these plots through an e-auction process, offering a valuable opportunity for realtors. After this allotment, the availability of land for similar schemes in the city will become scarce.
Interested buyers began registering for these commercial plots on August 29, with the registration period remaining open until September 19, 2024. The plots are strategically located in key areas, including Sector 10, Sector 12, Delta One, Sigma II, Three and Four, Ita One, KP III (Tugalpur), Chai-Phi, and Zeta One. According to the official advertisement, applicants must submit processing fees and documents by September 26, 2024, following the registration period.
Out of the 22 plots available, 11 feature a floor area ratio (FAR) of two, while the other 11 offer a FAR of four. FAR determines the extent of the covered area and the building's permissible height. Realtors can choose between plots that have a FAR of two, offering less built-up area, and those that feature a FAR of four, allowing for taller structures with greater coverage. This variety gives developers flexible options for constructing shopping malls and other commercial establishments.
The allotment process will be entirely digital, ensuring a streamlined experience for applicants. Interested parties may apply through the State Bank of India (SBI) portal, directly linked to the Greater Noida Authority's website. This integration allows applicants to complete the process conveniently from the authority's site.
The reserve prices for the plots vary according to their FAR and size. For plots with a FAR of two, reserve prices range from INR 9.62 crore to INR 119.53 crore, while those with a FAR of four have reserve prices ranging between INR 35.96 crore and INR 105.89 crore. GNIDA will allot the plots on a leasehold basis for 90 years from the date of executing the lease deed, offering successful bidders a long-term investment opportunity. This scheme represents a significant milestone for commercial development in Greater Noida, poised to shape the city's future landscape.
The Greater Noida Industrial Development Authority's (GNIDA) new scheme offering 22 commercial plots via e-auction presents a strategic opportunity for realtors, especially given the rising demand driven by the upcoming Noida International Airport. With plots ranging from 1,500 to 19,000 square metres and varying floor area ratios (FAR) of two and four, developers have flexible options for constructing commercial establishments. The digital allotment process, facilitated through the State Bank of India portal, ensures convenience and efficiency. This initiative not only addresses the immediate demand for commercial space but also promises significant revenue reinvestment into Greater Noida's infrastructure, marking a pivotal moment for the city's commercial development.
Advertisement
Facebook
Whatsapp
