With the land market in Noida heating up ahead of the expected launch of the Noida International Airport in June, the Noida Authority is set to auction 35 plots across industrial, institutional, commercial, and hotel categories. The reserve prices for these plots range from Rs 65 lakh to a staggering Rs 758 crore, reflecting the surge in investor interest driven by the upcoming airport, which is scheduled to begin commercial operations on June 15.
Plot Scheme Details
The plot scheme will open on May 19. Applicants can deposit the earnest money by June 9, while the last date for submission is June 11. CEO Krishna Karunesh stated, "The Authority has decided to launch plots under different categories. The scheme will open on May 19, EMD can be submitted by June 9, and the final submission date is June 11."
Industrial Plots
The largest segment is industrial, with 19 plots in sectors 3, 6, 7, 9, 10, 64, 80, 162, and Phase-II. These plots range from 115 to 8,000 square meters and are intended for manufacturing and processing units. Reserve rates vary from approximately Rs 24,000 to over Rs 57,000 per square meter, resulting in plot prices from Rs 65 lakh to Rs 18 crore.
Institutional Plots
The institutional category includes land for senior secondary schools, hospitals, nursing homes, and corporate offices. Unlike industrial and commercial plots, these will be allotted through an interview process rather than an e-auction.
- School Plots: An 18,954 sqm plot in Sector 19 at Rs 143 crore and a 5,230 sqm plot in Sector 42 at Rs 21 crore.
- Hospital Plots: A 10,680 sqm plot in Sector 117 for Rs 70 crore and a 10,224 sqm plot in Sector 145 for Rs 89 crore.
- Nursing Home Plots: A 1,160 sqm plot in Sector 47 at Rs 18 crore and a 1,000 sqm plot in Sector 41 at Rs 11 crore.
- Corporate Office Plots: Two 1,950 sqm plots in Sector 153 at Rs 18.6 crore each.
Commercial and Hotel Plots
The most expensive offerings are in the commercial builder category for plots above 20,000 sqm. A 29,408 sqm plot in Sector 18 has a reserve price of Rs 758 crore, the highest in the scheme. Two other large commercial plots are priced at Rs 401 crore (23,454 sqm in Sector 96) and Rs 547 crore (37,058 sqm in Sector 93-B). Smaller commercial plots include a 10,031 sqm parcel in Sector 94 at Rs 186 crore and a 2,536 sqm plot in Sector 18 at Rs 99 crore.
Additionally, three hotel plots are available in sectors 71, 124, and 142, with prices of Rs 148 crore, Rs 245 crore, and Rs 159 crore, respectively.
Conclusion
The Noida Authority's plot auction is expected to attract significant interest from investors and developers, capitalizing on the anticipated growth in the region due to the new airport. The scheme offers a diverse range of land parcels to cater to various commercial and institutional needs.
