Greater Noida Authority Offers Residential Plots via E-Auction

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    The Greater Noida Authority (GNIDA) has launched a scheme to offer 10 residential plots ranging in size from 51 sqm to 500 sqm, with prices starting at Rs 27 lakh and reaching up to Rs 2 crore, as published by The Economic Times.

    The allocation of these plots will be done through an e-auction, and possession will be handed over to successful bidders within 30 days of completing all formalities.

    Among the plots available, seven are located in Sector 2, each measuring 220 sqm. Their reserve prices range from Rs 1.14 crore to Rs 1.20 crore.

    The largest and most premium plot under the scheme is a 500 sqm plot in Sigma 2, priced at over Rs 2 crore. For those interested in smaller options, a 51 sqm plot in Beta 2 is available for Rs 26.75 lakh. A 200 sqm plot in Delta 2, with a reserve price of Rs 1 crore, provides a mid-sized option for buyers.

    Applicants are required to deposit 10% of the total premium as registration money to participate in the e-auction. The successful bidders must pay 25% of the total premium as allotment money, adjusted for the registration deposit, within 15 days of receiving the allotment letter.

    The remaining 75% can be paid using one of two options: full payment within 60 days, which includes a 2% rebate on the bid price, or through four quarterly installments over one year, with simple interest.

    The plots are offered on a leasehold basis for 90 years and will be allotted on an “as is, where is” basis. GNIDA has advised applicants to visit the sites before applying for the e-auction to assess the plot conditions firsthand.

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