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Noida Authority likely to conduct e-auction of duplex flats; price starts at Rs 1.79 crore

The duplex apartments, located in Sector 135, have a super area of 1,937 sq ft.

Duplex apartment

Duplex apartment

Noida Authority is expected to conduct an e-auction of duplex flats in the first week of June. The base price of the duplex apartments has been kept at Rs 1.79 crore, officials privy to the development said.

They said that under the exercise, three duplex flats will be put on sale, and one middle-income group (MIG) flat will also be e-auctioned.

“Nearly 15-20 applications have been received against these flats and an e-auction will be conducted. These flats were part of the scheme launched in January this year. The date of the e-auction is yet to be finalised as we are awaiting approval from higher authorities,” an official told Moneycontrol requesting anonymity.

Officials said that the e-auction is likely to take place either in the last week of May or in the first week of June depending on the approval from Noida Authority CEO Ritu Maheshwari.

The duplex apartments have a super area of 1,937 square feet (sq ft). The duplex flats are located in Sector 135 while the MIG flat is in Sector 62. The base price of the duplex apartments has been kept at Rs 1.79 crore while that of the MIG flat is around Rs 70 lakh.

To cater to the rising demand for dwelling units in the city, the Noida Authority had in January 2023 launched a scheme for e-auction of 24 flats, including three duplexes, five MIG and 16 HIG flats. The last date to apply in the scheme was January 31 which was extended twice due to tepid response from homebuyers.

Authority officials said that not enough responses were received for the other 20 flats in MIG and high-income group (HIG) category under the scheme. So, those were not put up for e-auction. Norms say that a minimum of three applications are required against each property to advance it to the next stage of e-auction.

The remaining flats will be again put up for sale in future through new schemes, officials said.

Officials said that these built-up flats have 24x7 water and electricity supply, along with piped natural gas supply. Areas where these flats are located have good public transport connectivity, including metro train services, and city buses, among others.

Also Read: Noida Authority e-auctions 6 commercial plots for around Rs 2,700 crore

They added that these flats are free from all hindrances, such as pending registry, which is a prominent issue in private builder flats.

Ashish Mishra
first published: May 26, 2023 04:28 pm