Greater Noida Industrial development authority (GNIDA) auctions three plots for 521 crores surpassing the base price of 262 crores. The auction is an addition to the recent e-auction conducted by GNIDA for five plots with the base price of 738 crores and ending up selling for 1500 crores by withdrawing huge profit.

In this auction, three famous developers participated and won the bids. The results are as follows:

Eldeco Infrastructure won the largest plot, measuring 30,470 sq metres, for Rs 286 crore (reserve price was Rs 187 crore). Prasu Infrabuild and Divyansh Infraheight won the second-largest plot, which is 16,276 sq metres, for Rs 154 crore (reserve price was Rs 91 crore). Purvanchal Projects secured the smallest plot of 3,999 sq metres for Rs 79.65 crore (reserve price was Rs 23.97 crore).

Eldeco also recently acquired other land parcels in Noida, Gurgaon, and Sonipat, with significant investments. The company has a strong track record, having developed 200 projects with a total area of about 30 million square feet, and currently has 30 projects in progress.

Eldeco recently received Rs 350 crore in funding from HDFC Capital Advisors for their residential projects across India, bringing their total funding to Rs 850 crore. Their future projects are planned for various cities and holiday destinations.