In a bid to boost residential development in the city, Greater Noida is launching an e-auction of five builder plots with the expectation of generating Rs 500 crore in revenue. This initiative comes alongside the authority’s aim to create more housing options. The Noida Authority will conduct the online auction process, with registrations open from July 2nd to July 23rd.
The five plots on offer span a total area of 99,000 square meters and are strategically located across various sectors of Greater Noida. Individual plot sizes range from 3,999 square meters to 30,470 square meters, catering to developers with diverse project plans. Should the auction successfully fetche the reserve price for the plots, the revenue generated is estimated to be sufficient for the construction of around 8,000 new flats, significantly bolstering the city’s housing infrastructure.
This move by the Greater Noida Authority highlights a two-pronged approach: generating revenue and addressing the need for more residential units in the city.
