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Greater Noida Authority Three land parcels have been auctioned for Rs 305 crore against the reserve price of Rs 200 crore to real estate developers.
The authority had invited bids for 11 land parcels in December and received interest from nine developers for three land parcels.
Golf Green Mansions Private Limited 22,000 square meter land parcel has been acquired for Rs 127.05 crore against the reserve price of Rs 77 crore.
is a joint venture of Irish Infrastructure (81%) and Anshu Hospital (19%) have acquired a 20,240 square meter land parcel for Rs 125.38 crore against the reserve price of Rs 70.84 crore.
The third land parcel, spread over 14,998 square metres, has been acquired by a consortium of Savannah Builders Company Limited (70%) and Eldeco Infrastructure & Property Ltd for Rs 53.01 crore against the reserve price of Rs 52.49 crore.
“This is the first time, we have e-auctioned the land for the builder. Despite this, we have managed to sell the land at a premium. Greater Noida has become the preferred option for real estate development, be it data centres, commercial or residential development,” said Ritu Maheshwari, CEO of the Greater Noida Authority.
The developers have to deposit the money within 90 days.
recently, Godrej Properties Limited, It had acquired two land parcels for Rs 377 crore through auction from the local authority for a residential project in Noida.
The authority had received five bids for the two plots and Godrej has emerged as the highest bidder for both.
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