Opportunity Knocks: Noida Authority Set to Auction High-Value Commercial Plots in Sector 50″

    Date:

    Share post:

    Noida Authority is preparing to conduct an e-auction for three commercial plots located in Sector 50 by the end of June. These plots were initially part of a scheme launched in February 2023, which aimed to allot 14 commercial plots. However, despite two deadline extensions, only three applications were received, prompting the decision to put the remaining plots up for sale through a fresh scheme.

    Officials have disclosed that a total of five to seven applications have been received for the three plots available for bidding. The applications are currently undergoing scrutiny, and once approved by the Authority CEO, the e-auction will proceed. The plot will be awarded to the highest bidder, as determined during the auction process. Meanwhile, the Noida Authority plans to launch a new commercial plot scheme within the next 2-3 months, offering additional opportunities for interested investors.

    Also Read :- Noida Authority to auction 14 commercial plots

    Regarding the speculation surrounding the involvement of the LuLu Group, a United Arab Emirates-headquartered company, officials have clarified that they did not apply for this particular scheme. However, it is worth mentioning that the LuLu Group had previously signed a memorandum of understanding with the Noida Authority, expressing their intent to invest Rs 2,500 crore in Noida for the development of a mall and a hotel. The 14 commercial plots initially offered under the scheme are located across Sectors 32, 35, 40, 50, 94, 96, 108, 124, 132, and 135. Of these, the three plots currently being auctioned are situated in Sector 50.

    Noida Authority’s decision to conduct an e-auction for these plots reflects their commitment to facilitating commercial development in the area. With the upcoming launch of a new commercial plot scheme, investors who have pledged to invest during the UP Global Investors Summit will have further opportunities to participate in Noida’s flourishing commercial landscape.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Nearly 20 Premium Malls Set to Open by 2026 in Top Indian Cities: Report

    NEW DELHI (AP) — India is poised to see a major expansion in its premium retail infrastructure, with...

    GDA to Introduce Slot System for Property Registrations in Ghaziabad

    The Ghaziabad Development Authority (GDA) will soon launch a slot-based registration system for property buyers in an effort...

    Top Seven Indian Cities See Strong Office Leasing Growth: Vestian

    India’s top commercial real estate markets witnessed robust momentum in 2024, with leasing activity and office rental rates...

    Amaravati Capital City Project Resumes After Five-Year Pause

    Construction has recommenced on the ₹65,000 crore Amaravati capital city project in Andhra Pradesh, marking a significant revival...