GNIDA Commercial Plot Auction:Nirala World Secures Two Plots
The recent GNIDA commercial plot auction generated Rs 533 crore through the sale of nine prime plots for commercial development, exceeding the reserve price of Rs 458 crore. This auction highlights the growing demand for commercial real estate in Greater Noida.
Among the key participants, Adamant Construction secured the largest plot, while Nirala World, a renowned Noida-based developer, emerged as the highest bidder for two commercial plots. The GNIDA commercial plot auction follows closely after a recent residential auction where GNIDA sold three plots for Rs 521 crore, against a reserve price of Rs 262 crore.
For the residential plots, Eldeco Infrastructure and Properties Ltd secured one parcel, while a joint bid by Prasu Infrabuild and Divyansh Infraheight, along with Purvanchal Projects, claimed the other two.
Suresh Garg, CMD of Nirala World, commented on their achievement in the GNIDA commercial plot auction, stating, “We recently secured a land parcel in Greater Noida West through the auction process. Our plans include developing a commercial project, potentially a mall or high-street retail, with an estimated construction budget of Rs 250–300 crore.” Nirala World successfully acquired two commercial plots, each spanning 10,600 square meters, with a total cost of Rs 180 crore, including GST, lease rent, and stamp duty.
Nirala World is already recognized for its luxury residential developments in Greater Noida West. The developer recently launched another high-end residential project and has completed a 25-acre site with 4,050 homes. Of these, 3,600 units have already been handed over to buyers, with the remaining 450 units to be delivered soon.
Apart from Nirala World, major developers like Godrej Properties and Sobha Limited have also taken part in previous GNIDA commercial plot auctions. In one such auction, GNIDA managed to sell five land parcels, originally valued at Rs 738 crore, for a total of Rs 1,500 crore.
This surge in successful GNIDA commercial plot auctions reflects the increasing demand for commercial and residential spaces in Greater Noida, solidifying its position as a booming real estate hub.
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