Noida Authority plans to auction 17 industrial plots in February

The deadline for prospective buyers to register is February 3, and the deadline for submitting the final documentation is February 5. A source familiar with the development said the Noida Authority plans to auction 17 industrial plots in sectors 8, 80, 158, and 164 in February.

As of January 13, 2023, the Authority has launched the scheme for allocating 17 plots for industrial development. By February 5, 2023, all documents must be submitted to the Department of Education. Registration expires on February 3, 2023. Moneycontrol spoke with an official of the Noida Authority who expressed optimism about the response from buyers. Among the plots in this development are eight in Sector 80, six in Sector 164, two in Sector 8, and one in Sector 158.

Between 204 square meters and 4,035 square meters are available. Two plots are 204 square meters, two plots are 450 square meters, six plots are 500 square meters, and four plots are 1,000 square meters. According to the official, three plots have areas of 1,950 square meters, 4,000 square meters, and 4,035 square meters.

A plot with an area of 204 sq m costs Rs 88.34 lakhs, one with an area of 450 sq m costs Rs 96.48 lakhs, one with an area of 500 sq m costs Rs 1.09 crores, one with an area of 1,000 sq m costs Rs 1.86 crores, one with an area of 1,950 sq m costs Rs 4.08 crores and plots with an area of more than 4,000 sq. m.

Those interested in participating in the e-auction must register on the portal by 5 pm on February 3 and deposit Rs 20,000 (excluding GST) as a non-refundable application fee.

We will award plots based on their existing conditions. After receiving a poor response, the Noida Authority extended the deadline twice for selling 18 industrial plots.

The e-auction on January 16 resulted in the sale of seven of the 18 plots for a total of Rs 63.6 crore. For the remaining plots, more than three applications were received, so they have been rolled over again.

It is necessary to receive three applications per plot in order to move on to the next stage of bidding. We will better publicize our scheme in order to ensure a good response. If necessary, the deadline may need to be extended. A scheme like this will likely attract more buyers who meet the eligibility requirements,” the official said.

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