According to officials, the Noida Authority projects that in the fiscal year 2024-2025, it will sell group housing plots for a maximum of Rs 1,080 crore and commercial land parcels for Rs 1,010 crore. 

According to people who know the situation, the Noida Authority intends to sell more than 500,000 square meters of land to raise more than Rs 3,700 crore in the 2024-2025 fiscal year.

According to their statement, different portions of the land will be allocated for group housing, commercial, industrial, institutional, and residential uses.

According to people who understand the [project, the authority will sell these plots through an online auction by putting up several schemes, and the land parcels are spread throughout the city.

“We will launch initiatives in different markets to e-auction various land lots. If everything goes according to plan, we intend to allot 5.5 lakh square meters of land in the current fiscal year, and by selling these plots, we hope to raise over Rs 3,700 crore,” report.

According to Authority officials, group housing plot sales are expected to bring in a maximum of Rs 1,080 crore, while commercial land parcel sales are expected to bring 1,010 crore in 2024-25. The Authority wants to sell land designated for industrial use to raise Rs 705 crore.

Similarly, according to officials, the Noida Authority hopes to raise Rs 650 crore from the sale of residential plots and Rs 315 crore from the sale of institutional plots. The statement also stated that the Authority intends to allocate vacant spaces in its residential buildings spread throughout the city to generate an additional Rs 35 crore in revenue for FY25.

The Noida Authority has set aside 1 lakh square meters for industrial use and 3.25 lakh square meters for institutional use with land volume. The Authority intends to set aside 35,000 square meters for institutional use with land volume. The authority plans to set aside 35,000 square meters for commercial land and 67,000 square meters for residential plots. Group housing plots will occupy up to 13,800 square meters of land.

Officials have stated that plans will soon be unveiled for group housing, commercial, institutional, industrial, and residential categories.

The Noida Authority allocated roughly 26,136.55 square meters for group housing and just 8,061 square meters for residential plots in the previous fiscal year (2023-24). The industrial category has been allocated approximately 44,000 square meters, while the commercial category has received roughly 35,000 square meters. 

The Noida Authority awarded the Mumbai-based developer Godrej Properties a 6.45-acre group housing plot in Noida Sector 44 in February of this year for a payment of Rs 506 crore. Plot distribution took place via an online auction.