In an auction conducted by the Greater Noida Industrial Development Authority (GNIDA), Prasu Infra Limited has secured the exclusive rights to develop plot GH-128 in Sector Zeta One. The company emerged as the sole bidder among the ten builder plots put up for sale, while the remaining plots failed to attract any buyer interest. GNIDA officials have announced plans to reintroduce the unsold plots through new schemes and are currently investigating the reasons behind the lackluster response.
The successfully allotted plot, spanning an area of 23,600 square meters, carries a reserve price of Rs 108.5 crore. Once the allotment letter is issued by GNIDA, Prasu Infra Limited is expected to make a lump sum payment of around Rs 110 crore within 90 days, ensuring a seamless execution of the upcoming residential project.
Saumya Srivastava, GNIDA Officer on Special Duty, emphasized the significance of the lump sum payment, which will eliminate potential hindrances and expedite the completion of the project. The allocated plot has the capacity to accommodate approximately 1,100 flats.
This auction outcome further solidifies Greater Noida’s standing as an attractive investment destination, with various property categories garnering considerable attention. Industry, data centers, and residential projects have been particularly sought-after, signaling a growing interest among investors.
As GNIDA prepares to relaunch the remaining unsold builder plots through fresh schemes, they aim to address the reasons behind the lack of buyer interest in the previous auction. GNIDA officials underscore the requirement of a minimum of three bids per plot to advance to the subsequent stages of e-auction.
Despite attempts to obtain comments from Prasu Infra Limited regarding the successful bid, the company did not provide any response.
With the successful allocation of plot GH-128 and the potential for future investment opportunities, Greater Noida’s Sector Zeta One continues to be a promising area for both developers and investors alike.