The Greater Noida Industrial Development Authority (GNIDA) has announced a premium group housing plot scheme situated close to the forthcoming Noida International Airport, with the largest parcel having a reserve price of Rs 152 crore.
The Authority has placed three prime plots up for auction via e-bidding ā one measuring 18,215sqm in Sector Mu with a reserve price of Rs 97 crore, another 30,000sqm plot in Sigma III with a reserve price of Rs 152 crore, and a 3,999sqm land parcel in Alpha II with a base price of Rs 25 crore.
Officials indicated that these parcels are strategically positioned near the upcoming airport and provide excellent connectivity to both the eastern and western dedicated freight corridors, as well as the Noida and Yamuna expressways. The closeness to the airport in Jewar, which is anticipated to become operational soon, is expected to significantly increase demand for residential properties in the area.
“Once the airport commences operations, it will greatly improve both regional and international connectivity, leading to an increased demand for housing from professionals in the fields of aviation, logistics, hospitality, and related sectors who prefer residing near their workplaces.
Consequently, Greater Noida presents an appealing option, providing more spacious and cost-effective living arrangements compared to other areas in Delhi-NCR,” stated an official. As per the scheme document, successful bidders are required to submit 10% of the premium as earnest money along with their applications. The remaining 90% must be paid within 90 days of receiving the allotment letter.
The development timeline mandates that lessees complete construction in accordance with the approved layout plan and secure occupancy certificates in a maximum of five phases within seven years of signing the lease deed. The first phase must be finalized within three years; otherwise, extension fees on a pro-rata basis will be imposed in line with the current policy. The scheme, which was launched on Friday, will accept registrations until July 4. Successful bidders will be granted possession within 30 days of the allotment.
