On August 7, 2024, the Greater Noida Industrial Development Authority held an auction for five plots of land meant for builders or group housing. This auction was done online through the State Bank of India’s e-auction portal. Thirty-eight bidders participated, and the bids were significantly higher than the reserve prices—up 128%. 

Here are the details of the winning bids: In Sector-12, a plot of about 32,000 square metres was won by M/s Godrej Properties Limited at a rate of Rs. 1,36,743 per square metre. Another plot in Sector-Sigma-III, around 38,700 square metres, was awarded at Rs. 1,03,243 per square metre. 

In Sector-36, M/s Shobha Limited secured a plot of 13,900 square metres at Rs. 1,16,012 per square metre. Also, in Sector-12, M/s Ashtech Industries Pvt. Ltd. won a 22,500 square metre plot at Rs. 1,30,743 per square metre. Lastly, in Sector-Eta-2, M/s Prasu Infrabuild Pvt. Ltd., as a consortium, got a plot of 28,000 square metres at Rs. 71,404 per square metre.

Overall, the Greater Noida Authority sold about 1,35,882 square metres (or 34 acres) of land for approximately Rs. 1500 crores. This amount is about Rs. 762 crores more than the reserve prices. On average, the land prices increased by 103% from the reserve prices.

The successful bidders must pay the full amount for their plots within 90 days of receiving their allotment letters. These new plots will allow people who want to live in Greater Noida to choose from various high-quality buildings and apartments.

                                             Press Release By Greater Noida Authority