Jewar Effect: Greater Noida land parcels sell for triple of reserve price

Greater Noida: The land parcels in Uttar Pradesh’s Greater Noida were auctioned for triple their reserve price in a three-day e-auction conducted by the Greater Noida Authority on March 28.

The reason behind the plots being sold at such expensive rates is due to the city’s connectivity with the under-construction Jewar Airport or the Noida International Airport.

The auction of 166 plots, which took place through SBI portal, ended on March 30.

The reserve price of these plots was set at Rs 153 crore which exceeded to Rs 415 crore in the auction. Thirty-nine plots were auctioned on the last day of the e-auction, whose reserve price was set to around Rs 53.64 crore. They were sold at Rs 132 crore in the auction.

On the instructions of Greater Noida Authority’s CEO Ritu Maheshwari, the estate department launched the scheme of 166 residential plots, ranging from 162 sq metres to 738 sq metres on January 30. These plots are located in Sector 2, Sector Chi 3, Phi 3, Delta 2, Delta 3, Sigma 1 and Sigma 2.

One such plot of 220 sq. metres located in Sector 2 was sold at a rate of about 162 per cent more than the reserve price, which was Rs 87.12 lakh. The plot, however, was sold at Rs 1.41 crore.

Maheshwari stated that the reserve price of all these plots was Rs 53.64 crore. She said that the possession of these lands will be handed over as soon as the allotment process is completed.

She added that the way home-seekers have participated in the e-auction, it is an achievement for the “greenest city”, Greater Noida.

Additional CEO, Anand Vardhan said that Greater Noida has been settled with a lot of planning, hence the area has wide roads, greenery and cleanliness. The people there also have access to different kinds of markets, which is why it has become a premier choice for the people in Gautam Buddha Nagar district.

Maheshwari stated that the planning was done keeping the residents in mind. To prevent the people from facing problems in reaching their destinations, the Noida-Greater Noida Expressway was constructed.

She said that service lanes have also been constructed on both the sides of the Expressway to avoid traffic jams.

Adding that, an expressway has also been constructed from Greater Noida to Agra-Mathura, which has been connected to the one from Agra-Lucknow.

The CEO stated that one could also use the Eastern Peripheral Expressway to travel to Haryana from Greater Noida.

She added that the expressway will directly connect Greater Noida with Faridabad and Gurugram in the coming days, work on which is underway.

Maheshwari said that the Metros can be used to travel between Delhi and Greater Noida and work to construct a direct line of pod taxis and Metro to Delhi Airport is underway.

Town Planner Abhinav Singh Chauhan while speaking to IANS, said that the biggest reason behind these plots being sold at three times the bid is the Jewar Airport being built near Greater Noida and its excellent connectivity.

Chauhan added that people envision building their homes and future in Greater Noida due to its easy connectivity with other areas.

He stated that the plots have been sold at a very expensive rate because Greater Noida’s planning was done keeping cleanliness, connectivity and the problem of traffic jams, among others in mind.
IANS

Not just Tesla, we’re expecting good response from several EV makers: DPIIT Secy

New Delhi: While all eyes are on Elon Musk-run Tesla to make its entry into India, the government is expecting a good response from several automobile majors on the electric-vehicle...

Women break through glass ceiling at IndiaSkills 2024

New Delhi: The IndiaSkills Competition 2024, which is underway from May 15-19 at Yashobhoomi convention centre in Dwarka has been witnessing increased participation of women in trades that were previously...

Zomato CEO wants Indians to eat ‘roti’ instead of ‘naan’ to stay healthy

New Delhi: Online food aggregator Zomato's Co-founder and CEO Deepinder Goyal on Friday launched a new feature to help customers make healthier choices. To begin with, the company has started...

Paytm travel carnival offers deals on domestic flights, discounts on train, bus bookings

New Delhi: Financial services company Paytm on Friday launched 'Paytm Travel Carnival', offering exclusive summer deals and discounts on travel bookings, including flights, trains, and buses. The special sale will...

Sensex down 166 points, M&M gains over 6 pc

Mumbai: India equity indices were in red on Friday following muted global cues. At 9:45 a.m., Sensex was down 166 points or 0.23 per cent, at 73,497 points and Nifty...

Sensex rises 155 points after positive global cues

Mumbai: Indian equity benchmarks surged on Thursday, following positive Asian peers and US CPI data, which rose slightly less than expected in April. At 9:50 a.m., Sensex was up 155...

‘iPad campaign was a major fumble’: Tim Cook to 22-yr-old Indian student

New Delhi: Apple CEO Tim Cook has called the latest iPad Pro advertisement a "major fumble", after it received backlash from social media users. Cook's comment comes after a 22-year-old...

Blinkit offers ‘free dhaniya’ with veggies, people ask for ‘hari mirch’ too

New Delhi: After listening to a user's mother's suggestion who had to pay for ‘dhaniya’ (coriander) on Blinkit while ordering veggies, Zomato's grocery delivery platform has now started to offer...

After Mumbai & B’luru, Zomato expands priority food delivery service to 3 more cities

New Delhi: Online food delivery company Zomato has now expanded the 'priority food delivery service' to three more cities -- Delhi, Hyderabad and Pune -- after piloting the offering in...

India surpasses Australia, Japan, Hong Kong in data centre capacity

New Delhi: India has surpassed major countries like Australia, Hong Kong SAR, Japan, Singapore, and Korea becoming the country with the highest data centre capacity of 950 MW in the...

WPI to be around 3 per cent in FY 25, say economists

Chennai: The Wholesale Price Index (WPI) is expected to be in the region of 2-3 per cent over the next two quarters and average at around 3 per cent for...

Sundar Pichai bets big on future of AI with Google Gemini

New Delhi: As artificial intelligence (AI) becomes the buzzword across industries and relevant stakeholders inducing governments, Indian-origin CEO of Alphabet and Google, Sundar Pichai, has revealed a new roadmap for...

Read Previous

Iran to enforce compulsory hijab rule on women

Read Next

Elon Musk calls struggling San Francisco a city of ‘Walking Dead’

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com