The Authority of Noida has disclosed on Friday that the sell off of some commercial plots ranging from 6,046 square meters to 64,500 square meter on a lease of 90 year in different sectors. The auction for these commercial plots for 6,046 square meter will start at Rs 96.13 crore, while one for 64,500 square meter will start at Rs 1,025 crore, On 11 july 2017 this auction will be finalized.
Officials said that these commercial plots will be used for showrooms, shopping malls, hotels, restaurants, retail outlets etc. but will accountable to the master plan of Noida. Bipin Gaur , General Manager , Noida Authority said that the ”Considering that the Noida Authority did not raise the commercial land allotment rates in its last meeting held on June 9, we are cheery about the sale of these plots”. He also said that the real estate firm has been witnessing a recession, we hope to sell the commercial plots this time.”
As per Noida’s buildings and architectural norms the buildings will be constructed. The height of the buildings will also be set accordingly. Location of these plots are in sectors 44,62,63,94,96,121 and 124.
Large plots will be granted a assumed coverage of 40%. A maximum FAR ( Floor Area Ratio) 2 to 4 will be allowed confide in location of the commercial plot. Gaur said ” The fund price in this plots category, will be auctioned by 2 -system of bid, has been fixed at Rs 1.59 lakh per sq meter.