The Greater Noida Industrial Development Authority (GNIDA) has unveiled a new program, making three prime group housing plots available for e-bidding in the vicinity of the forthcoming Noida International Airport. Among these, a 30,000 sqm parcel situated in Sigma III carries a reserve price of Rs 152 crore. The remaining plots include an 18,215 sqm area in Sector Mu, set at a reserve price of Rs 97 crore, and a 3,999 sqm land parcel in Alpha II, with a base price of Rs 25 crore.
These land parcels are strategically positioned near the impending Jewar airport, providing excellent access to both the eastern and western dedicated freight corridors, along with the Noida and Yamuna expressways. Officials anticipate that the airport’s imminent operational status will significantly boost demand for residential properties in the area.
According to an official, the commencement of airport operations is expected to greatly improve regional and international connectivity, thereby stimulating a demand for housing from professionals in the aviation, logistics, hospitality, and related sectors who prefer to reside close to their workplaces. Greater Noida is thus presented as an appealing alternative, offering more expansive and affordable living options when compared to other localities within the Delhi-NCR region.
The scheme’s documentation stipulates that successful bidders must remit 10% of the premium as earnest money with their applications. The remaining 90% is to be paid within 90 days of receiving the allotment letter. The construction timeline requires lessees to complete building in adherence to the approved layout plan and secure occupancy certificates in a maximum of five phases within seven years of executing the lease deed. Failure to complete the first phase within three years will result in pro-rata land extension charges, as per the prevailing policy. The scheme, launched on Friday, will be open for registrations until July 4, with successful bidders receiving possession within 30 days of allotment.
