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HomeNewsReal EstateGreater Noida authority expects Rs 500 crore revenue from auction

Greater Noida authority expects Rs 500 crore revenue from auction

The Greater Noida Authority has launched a new scheme for allocation of five builder plots, expecting a minimum revenue of Rs 500 crore and construction of 8,000 new flats in the city. The allocation will be done through e auction with the online registration for the process commencing from Tuesday, it said in an official statement.

“If these plots are sold at the reserve price, the authority expects to generate around Rs 500 crore. The allocation will be conducted through e-auction, potentially leading to the construction of approximately 8,000 new flats,” the authority said.

Greater Noida Authority CEO N G Ravi Kumar said, “Greater Noida boasts of the highest greenery in the NCR and offers better infrastructure and connectivity compared to other cities, making it an excellent choice for residence.”

The Builder Department of the Greater Noida Authority has launched this scheme, which will allocate a total of 99,000 square metres of land, according to the statement.

The plots are located 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 metres, it added.

Brochures for the scheme are available for download on the Greater Noida Authority’s website, www.greaternoidaauthority.in, and applications can be submitted online via the SBI portal at https://etender.sbi.

 The last date for registration is July 23, with the deadline for submitting registration fees, EMD (Earnest Money Deposit), and processing fees set for July 26, it said.

Document submission must be completed by July 29, and possession of the plots will be given immediately upon allocation, it added.

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