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Noida Authority e-auctions two commercial plots in Sector 50 for Rs 169.41 crore

Priya Singh | 2023-10-19

The two plots were among 14 commercial plots offered under a scheme in February 2023. Despite two extensions, applications were received for only three plots
Noida and Greater Noida cumulatively accounted for a 32 percent share of the pie. Ghaziabad’s share was 12 percent share while Delhi and Faridabad accounted for 2 percent share each
The Noida Authority conducted an e-auction of two commercial plots for over Rs 169 crore, which is around Rs 10 lakh more than the reserve price of these land parcels. These plots are located in central Noida’s Sector 50, the Authority said.

The Authority said that these allotted plots can be used for the construction of shopping malls, general shopping complexes, offices, and showrooms, among others.

The Authority said that the reserve price of one plot was Rs 84.65 crore, and it was allotted for Rs 84.70 crore to bidder Aditya Infracorporation Private Limited (Consortium). Similarly, the other plot was allotted to Agarwal Associates (Promoters) Limited (Consortium) for Rs 84.71 crore, while the base price was Rs 84.66 crore.
The Authority conducted an e-auction of two commercial plots in Sector 50 on June 20. The Authority has earned Rs 169.41 crore through the e-auction of these two commercial plots. In addition, the allotment of these plots has also paved the way for an investment of Rs 32.81 crore and will provide job opportunities to 1,000 people," the Authority noted.