Greater Noida authority plans to auction prime commercial plots

The Greater Noida Authority has planned to auction 14 prime commercial plots and targeted revenues worth ₹500 crore. The plots are located near the India Expo Mart, which hosts the automobile expo. The expo mart is at the Delhi end of the Yamuna Expressway, a modern six-lane thoroughfare connecting Agra to Delhi. The plots ranging from 2,600 to 11,500 square metres in sizes have reserve prices between ₹10 crore and ₹75 crore. Narendra Bhooshan, CEO of Greater Noida Authority, informed that they are focusing on commercial, industrial and residential development in the region and with proximity to Jewar airport and connectivity with Delhi where the land is in high demand. The second airport serving India's capital is coming up near Greater Noida, which is also home to India's only F-1 circuit. The authority expects another ₹600 crore from residential development as it expects to tap homebuyers looking for flats under the government scheme. Also, under the open-ended scheme, where buyers have to apply online, the authority has put 2 BHK flats in high-rise buildings and flats with different options in low-rise buildings wherein buyers will get the possession within a year. The two BHK units at high-rises have been priced at ₹34.72 lakh while two BHK plus has a price tag of ₹52.29 lakh.