GNIDA launches commercial scheme; bids to be finalised on November 19

The Greater Noida Authority launched a commercial scheme for consortiums, investors and entrepreneurs on October 29. Fifty-six commercial plots across two categories will be offered under the scheme, a media report said.

According to officials, the commercial plots, ranging in size from 1,000 to 16,000 sq m, have been reserved at prices of Rs 46,190 to Rs 60,000 per sq m respectively. Bidding of these plots for commercial use will start at Rs 4.61 crore and Rs 96 crore respectively. The successful bids will be finalised on November 19.

PC Gupta, ACEO of GNIDA said, “The commercial plots have been divided into two categories. While 21 plots are located in commercial sectors of Greater Noida, the other 35 are located in areas designated as commercial in the Master Plan of Greater Noida.”

The development of the commercial plots for both categories of plots will allow 40 per cent permissible ground coverage with a maximum floor area ratio (FAR) of two for these 21 plots.

With a reserve price fixed by GNIDA at Rs 60,000 per sq m, the auction for the smallest plot in this category at 3,000 sq m will be launched at Rs 18 crore, while the bidding price of the largest plot will start at Rs 96 crore for a 16,000 sq m plot.