Greater Noida Builder Plots E-Auction to Generate ₹500 Crore Revenue
Noida, July 2, 2024 – The Greater Noida Authority has launched an innovative scheme to allocate five builder plots through an e-auction, with expectations of generating at least ₹500 crore in revenue. This initiative is also set to pave the way for the construction of around 8,000 new residential flats, significantly enhancing the city’s housing infrastructure.The e-auction process will begin with online registrations starting on Tuesday. The anticipated revenue of ₹500 crore is based on the reserve price of the plots. This move is expected to stimulate significant construction activities, resulting in the development of approximately 8,000 new flats.N G Ravi Kumar, CEO of the Greater Noida Authority, emphasized the region’s advantages, stating, “Greater Noida boasts the highest greenery in the NCR and offers superior infrastructure and connectivity compared to other cities, making it an ideal residential choice.”
Details of the Scheme
The Builder Department of the Greater Noida Authority has crafted this scheme to allocate 99,000 square meters of prime land across various sectors. The plots are situated in Omicron 1, Mu, Sigma 3, Alpha 2, and Pi 1 and 2, with sizes ranging from 3,999 square meters to 30,470 square meters.
Application Process
Interested applicants can download brochures from the Greater Noida Authority’s official website and submit their applications online via the SBI portal. Important dates for the Greater Noida builder plots e-auction application process include:
- Registration Deadline: July 23
- Submission of Fees: July 26
- Document Submission: July 29
Successful bidders in the Greater Noida builder plots e-auction will receive immediate possession of the plots, allowing for the swift commencement of development activities.
Strategic Benefits of Greater Noida
Greater Noida is strategically located within the National Capital Region (NCR) and is renowned for its robust infrastructure and connectivity. The city offers a pollution-free environment, reliable power distribution, ample water supply, and a well-planned road network. Additionally, Greater Noida is home to numerous educational institutions, healthcare facilities, shopping malls, and entertainment centers, ensuring a high standard of living for its residents.
Conclusion
The Greater Noida Authority’s new scheme for builder plots represents a significant step towards enhancing the city’s residential infrastructure. By utilizing e-auction technology, the Authority ensures a transparent and competitive process, attracting substantial investment and contributing to the region’s sustainable development. This initiative aligns with Greater Noida’s broader strategic objectives of sustainable growth and improved livability, reinforcing its status as a preferred residential destination in the NCR.
Read more: Supertech Construction Resumption Plan: Key to Delivering 15,000 Homes in NCR
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