Greater Noida Authority Anticipates Rs 500 Crore Revenue from Auction of Builder Plots

The Greater Noida Authority has announced a new scheme to allocate five builder plots, aiming to generate at least Rs 500 crore and facilitate the construction of approximately 8,000 new flats in the city. The allocation will be conducted through an e-auction, with online registration starting from Tuesday, according to an official statement.

Scheme Details and Expected Impact

“If these plots are sold at the reserve price, the authority expects to generate around Rs 500 crore,” the statement confirmed. The e-auction process is anticipated to lead to the development of around 8,000 new flats, significantly enhancing the housing infrastructure in Greater Noida.

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

Plot Locations and Application Process

The Builder Department of the Greater Noida Authority has launched this scheme, which includes a total of 99,000 square meters of land. 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 meters.

Brochures for the scheme can be downloaded from the Greater Noida Authority’s website, www.greaternoidaauthority.in. Applications can be submitted online via the SBI portal at https://etender.sbi. The registration deadline is July 23, with fees due by July 26. Document submissions must be completed by July 29, and possession of the plots will be granted immediately upon allocation.