In a recent development, the Greater Noida Industrial Development Authority (GNIDA) has taken a significant step by allotting five commercial plots near the Yamuna Expressway, fetching approximately Rs 253 crore. This move is strategically positioned considering the area’s proximity to the under-construction Noida International Airport in Jewar and the forthcoming Film City along the Yamuna Expressway.
Prime Location and Lucrative Opportunities
Officials acquainted with the matter emphasize that Greater Noida has emerged as an “ideal spot” for various commercial, industrial, and Residential ventures due to its strategic location. The allotted plots, spanning over 21,820 square meters, are situated in sector Alpha-2, offering lucrative opportunities for establishments such as hotels, malls, and showrooms.
Successful E-Auction and Encouraging Response
An e-auction conducted earlier this week facilitated the allocation of these plots, attracting enthusiastic participation. Notably, the bidding resulted in an average rate that exceeded the reserved price by 40 percent, translating to an additional revenue of Rs 46 crore for GNIDA. Ashutosh Dwivedi, the Additional CEO of Greater Noida Authority, hailed this development as a testament to Greater Noida’s appeal among Commercial investors.
Future Prospects and Growth Potential
With its strategic advantages, including proximity to key infrastructural projects like the Noida International Airport and the upcoming Film City, Greater Noida continues to attract investors and industrialists. The region’s conducive environment for business and investment, coupled with promising growth prospects, underscores its growing popularity among entrepreneurs.
Scheme Details and Successful Bidding Process
The GNIDA launched the commercial plots scheme, setting a reserve price of Rs 207 crore for the five plots. However, the successful bidding process yielded approximately Rs 253 crore, reflecting the strong Investor interest in the region. The bidding for these plots, launched on November 10, 2023, culminated on February 12, 2024, following a registration period that ended on December 1, 2023.
Plot Specifications and Remarkable Sales Performance
Among the allocated plots, the largest one spans an impressive 11,500 square meters, surpassing its reserve price of approximately Rs 109 crore to fetch approximately Rs 115 crore. The remaining four plots, each measuring 2,580 square meters, also witnessed notable sales performance, further reinforcing the attractiveness of Greater Noida as a commercial hub.
Conclusion
The allocation of five commercial plots near the Yamuna Expressway by the Greater Noida Industrial Development Authority marks a pivotal moment in the region’s journey towards economic prosperity. With its strategic location and proximity to key infrastructural projects, Greater Noida continues to emerge as a preferred destination for commercial investments.
Moreover, the successful e-auction process, yielding approximately Rs 253 crore, underscores the confidence of investors in the region’s potential for growth and development. As Greater Noida positions itself as an “ideal spot” for various commercial ventures, the future holds promising opportunities for businesses, entrepreneurs, and stakeholders alike.
With its forward-thinking initiatives and conducive business environment, Greater Noida remains poised to unlock new avenues for economic advancement and establish itself as a dynamic hub for commerce and innovation in the region. As stakeholders harness the potential of these allocated plots, they contribute towards shaping a vibrant and prosperous future for Greater Noida and its residents.