UP Govt Plans Large-Scale Auction Of Builder Plots In Greater Noida After GBC 4.0
After the forthcoming Ground Breaking Ceremony (GBC@IV) aimed at boosting development in Greater Noida, Uttar Pradesh has announced plans for a large-scale auction of builder plots in the area. The Greater Noida Industrial Development Authority (GNIDA) has initiated the auction process for eight types of builder plots, signalling a significant move towards promoting housing and commercial activities in the region.
The auction, set to expedite the allotment of plots ranging from 13,938.50 to 38,711 square metres in size, will be conducted through an e-auction mechanism. Notably, the reserve prices for these plots have been fixed between Rs 67.32 crore and Rs 178.34 crore, reflecting the government's valuation of their potential.
Located near the upcoming Jewar Airport, the plots earmarked for auction under the Builder Plot Allotment Scheme are strategically positioned for future development. Sectors targeted for the auction are expected to play a crucial role in the region's connectivity and economic growth.
Among the sectors included in the auction, major ones such as MU, Omicron-1A, ETA-02, Sigma-3, and Sector 12 have been identified. The reserve prices set for these plots vary according to their size and location, with the largest plot commanding the highest reserve price of Rs 178.34 crore.
The GNIDA has commenced the e-auction process, with the brochure download and registration process already underway. Interested parties have until April 1, 2024, to participate in the auction.
The auction will cover various sectors, including Sector 12 and Sigma-3, with plots of different sizes and reserve prices. Notably, plots in Sector 12 covering a combined area of 32,350 square metres have a reserved price of Rs 130.05 crore, while smaller plots in Sector 36 have a lower reserve price of Rs 67.32 crore.
The proximity of these plots to the Jewar Airport offers promising opportunities for future residential and commercial development, enhancing their attractiveness to potential investors. Recognising this potential, the Yogi Adityanath led UP government has taken proactive steps to initiate the development of these areas, aligning with its vision for the region's growth and prosperity.
With the auction process underway, stakeholders in the construction and development sectors are expected to actively participate, contributing to the realisation of Greater Noida's potential as a vibrant urban centre.
