Noida authority launches plot schemes, allotment to be via e-auctions

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The Noida Authority has put a number of plots on offer across categories, inviting applications from 6 February to 26 February. Most of these will be allotted through e-auction. An officials say it brings more transparency to the process and avoids disputes later.

The schemes cover corporate office, commercial, hotel, group housing and religious plots. Only the religious category will not be auctioned. Instead, applicants for those sites will be called for interviews before any decision is taken.

In Sector 152, ten plots meant for corporate offices have been listed. Nine measure roughly 1000 square metres each, while one is over 4000 square metres. Their reserve prices start from around ₹1 crore and go up to about ₹4.4 crore.

Two plots have also been reserved for religious purposes in Sectors 15A and 93B. These measure 302 sq m and 600 sq m. They are expected to be used mainly for temple construction and are priced at roughly ₹2.7 crore and ₹4.1 crore

The authority has also released five large commercial builder plots in sectors including 96, 98, 62 and 108. These are big parcels, ranging from about 24,000 to 50,000 square metres, with reserve rates running from nearly ₹400 crore to ₹800 crore. Alongside them, six smaller commercial plots have been offered in sectors such as 61, 142, 132, 135 and 126.

Six hotel plots in different sectors and two group housing plots in Sector 151 are also part of the scheme. Officials expect good response, especially from developers looking for sizeable land parcels in Noida.

Source: The Times Of India