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Greater Noida Authority auctions land parcels for residential development

Wednesday, 01 Feb 2023

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Greater Noida authority has auctioned three land parcels to property developers for Rs 305 crore against the reserve price of Rs 200 crore. The authority had invited bids for 11 land parcels in December, 2022 and received interest from nine developers for three land parcels.

Golf Green Mansions has acquired a 22,000 sq mtr land parcel for Rs 127.05 crore against the reserve worth Rs 77 crore. A three-way partnership of Irish Infrastructure and Anshu Hospital has acquired a 20,240 sq mtr land parcel for Rs 125.38 crore against the reserve price of Rs 70.84 crore. The third land parcel, measuring 14,998 sq mtr, has been acquired by a consortium of Savana Builders Company and Eldeco Infrastructure & Property for Rs 53.01 crore against the reserve price of Rs 52.49 crore.

Greater Noida, which is a preferred destination for many projects related to information centres, commercial, and residential spaces is seeing similar activities. Recently, Godrej Properties has acquired two land parcels for a residential venture in Noida from Greater Noida Authority via public sale for Rs 377 crore.