Greater Noida authority to auction 12 commercial plots with reserve price of Rs 370 crore

NEW DELHI: The Greater Noida authority has come out with the auction more commercial plots and expects revenues of Rs 370 crore from 12 commercial plots it plans to auction by the end of the month.

It has already generated Rs 94 crore from two commercial plots.

The plots ranging from 2356 to 12,000 square metres in size have reserve prices between Rs 10 crore and Rs 75 crore.

“Builders, developers and investors, who are willing to invest in Greater Noida, can apply for these commercial plots. The plots are free of any hindrance and are acquired by the authority, and we also have lease plan ready,” said Narendra Bhooshan, CEO, Greater Noida Authority.

The selected developer will have to pay 30% at the time of lease while the rest 70% can be paid in four years.