The three industrial bodies of Noida, Greater Noida, and the Yamuna Expressway have developed several plot designs for commercial, institutional, and other businesses to capitalise on the demand for land before Diwali.
On October 20, the Noida government announced a commercial plot program on property previously allotted to Wave Group in sectors 25 and 32, in the city center. Now, the authorities has divided the land parcel submitted by Wave Group into smaller commercial parcels.
The Greater Noida administration has agreed to start a project that will offer a total of 12 plots, two for senior secondary schools, two for hospitals, one for a nursing home, and the remaining seven for training institutes.
The deadline to submit applications is November 18. Officials stated that the authority will decide on a bidding date later and notify applicants.
"The plots will be allocated through an e-auction. Whoever makes the biggest bid on a plot will get it. The plots are free of legal encumbrances, and the administration would provide possession within 30 days of allotment," said Naveen Kumar Singh, officer on special duty for the Greater Noida administration.
The authorities has two plots for higher secondary schools available in Sector Knowledge Park-5, each measuring 10,000 square metres and 6200 square metres.
The reserve price for the 10,000 square metre plot is ₹30 crore, while the 6,200 square metre plot is ₹18 crore.
The hospital plot of 10,005 square meters is located in Sector MU and has a reserve price of ₹35 crore. The 4,439 square metre plot in Sector 10 has a reserve price of ₹19 crore. The nursing home plot of 2,511 square meters in Knowledge Park-1 has a reserve price of ₹ 10 crore.
Three 2,000 square meter training institute plots in Sector 4 have a reserve price of ₹5 crore apiece, while a 2,001 square meter Knowledge Park-1 plot also has a reserve price of ₹5 crore. The reserve price for two 4,000-square-meter plots for a training institute is ₹11 crore.
"We are providing an excellent chance for educational institutions that offer vocational training." Singh stated that once these plots are assigned and enterprises are established, the city will become a hub of vocational training.
The Noida authorities has unveiled a program that includes eight premium plots in Sector 25A, the city's center.
The proposal, with a total size of nearly 160,000 square meters and a reserve price of ₹3,103 crore, is expected to attract interest from enterprises and developers, according to officials.
These plots range in size from 17,645 to 25,572 square metres, with a floor area ratio (FAR) of 4.5 and ground covering of 45%. They are suited for high-density and vertical building, officials stated.
The reserve price ranges from ₹1.83 lakh to ₹1.86 lakh per square meter, with individual plots costing between ₹328 crore and ₹468 crore.
The bid submission period for the program begins on October 29, 2024, and ends on November 22, 2024.
The bid submission period for the program begins on October 29, 2024, and ends on November 22, 2024. Bidders must submit a non-refundable processing fee of ₹5.9 lakh and an earnest money deposit (EMD) ranging from ₹32-46 crore, depending on plot size.
This property is conveniently positioned near vital urban infrastructure such as the Noida Stadium, City Centre Metro Station, and major roadways, giving it an excellent option for investors wishing to capitalize on Noida's growing commercial sector.
This land was originally assigned to Wave Group. However, in 2017, Wave applied under the state government's project settlement policy (PSP), which allows developers to return land if they are unable to develop it. In March 2021, the Noida authorities took ownership of the land, citing dues of approximately ₹2,500 crore.
"With these commercial plots, the authority is providing a unique opportunity to those looking for commercial land to establish a business," said Lokesh M, chief executive officer of the Noida Authority.
The Yamuna Expressway Industrial Development Authority (Yeida) plans to establish a plot scheme for institutional land soon.
"We plan to launch a plot scheme for institutional land before Diwali. We will also launch a residential land scheme if the necessary paperwork and authorization from the Uttar Pradesh Real Estate Regulatory Authority are completed shortly," said Arun Vir Singh, Yeida's CEO.
