The project, to be built on a 5-acre land parcel owned by Sikka Group in sector 10 Greater Noida, marks Birla Estates’ debut in the region. As part of the arrangement, Birla Estates will invest about Rs 500 crore and join the project as co-developer, people familiar with the development said.
The registration for the residential plots scheme has started and the last date to apply is January 25. The cost of these residential plots ranges between Rs 27 lakh and Rs 2 crore.
The reserve price for the group housing plots in this township has been fixed at Rs 44,400 per square metres. The allotment rate for industrial plots will be Rs 23,900 per square metres and the rate for commercial plots will be Rs 75,400 per square metres
Greater Noida Authority on August 7 e-auctioned five group housing plots measuring about 1.36 lakh square metres for over Rs 1,500 crore
The Greater Noida Authority is expected to get a revenue of around Rs 500 crore from the allotment of the five plots
These plots will be used to build commercial complexes and malls in Greater Noida. The cumulative value of these 12 commercial plots at the reserve price is approximately Rs 1,014 crore. The last date of registration is July 16.
Several developmental projects, including the Greater Noida West Metro, Multimodal Logistics Hub, and Transport Hub, are coming to Greater Noida and Greater Noida West (also known as Noida Extension), the GNIDA said
According sources, some A-grade developers such as Godrej, Sobha among others have evinced interest for group housing plots located in Greater Noida sector 12. The allotment rates for these plots range from Rs 36,500 per sqm to Rs 48,300 per sqm but sources say that because of presence of A grade developers and high demand the allotment rates can go upto Rs 1 Lakh per sqm during e-auction.
The land allotment for industries will also generate 10,000 employment opportunities, the Greater Noida Industrial Development Authority (GNIDA) said in a statement.
Negotiations between Greater Noida Industrial Development Authority (GNIDA) and farmers of four villages here over the land acquisition controversy failed to reach a conclusion with villagers demanding that all the points agreed to be included in a written agreement.