The Noida Authority has launched a plan to allocate 25 commercial plots, with an objective of earning Rs 105 cr

By Bricksnwall | 2024-02-28

The Noida Authority's commercial land project has a registration deadline of March 7; plots will be distributed through e-auction. These 25 plots have a combined reserve price of about Rs 105.5 crore. Each of these plots has a reserve price ranging from Rs 49.11 lakh to Rs 6.60 crore.

A plan for 25 commercial plots in 11 different city areas has been proposed by the Noida Authority. According to people with knowledge of the situation, the combined reserve price for these plots is estimated to be Rs 105.5 crore.

They stated that these plots will be distributed through an online auction, with the deadline for registration for the program being March 7.

These plots are spread throughout 11 sectors in Noida and have a total area of 18 to 316 square meters, according to officials.

Six of the 25 commercial plots are situated in Sector 84A (Hosiery Complex), four are in Sector 16, three are in Sector 31, two are in each of the following sectors: 70, 71, 80, and 82; and one plot each in sectors 39, 40, 64, and 69. The program went live on February 16 and will run through March 7, according to the official.

These plots have reserve prices between Rs 49.11 lakh and Rs 6.60 crore. Depending on the size and location, the EMD (earnest money deposit) value of these plots will range from Rs 4.9 lakh to Rs 66 lakh, or 10% of the plot's cost. Additionally, in order to participate in the e-auction process, applicants will need to pay a non-refundable processing fee.

"These commercial plots are in prime locations near to marketplaces, Metro stations, and office areas in the city, so they can prove to be great investments for business purposes."

We anticipate a positive reaction from the purchasers," he remarked.

Source: Money Control