Noida authority has come up with a new initiative that involves offering land plots between Rs. 65 lakhs to Rs. 758 crores for use by industry, institutions, commerce, and hotels. Reports have indicated that the prices for this plot of land are quite expensive due to rising interest from investors before the commencement of Noida International Airport by June 15th.

As per the statement by the Authority, the project was launched on May 19. The period for depositing the EMD will end on June 9, whereas the last date for application will be June 11. The plots are divided into several types including industrial, institutional, commercial builder and hotel, located in Sectors such as Sector 3, 6, 7, 9, 10, 18, 41, 47, 64, 71, 80, 93B, 94, 96, 117, 124, 142,

According to the officials, the industrial category constitutes the major portion of the plan with 19 plots, the sizes of which vary from 115 sqm to 8,000 sqm. The purpose of these plots is manufacturing and processing industries. The reserve price ranges from around ₹65 lakh to ₹18 crore. According to the Authority, these industrial plots are distributed throughout Sectors 3, 6, 7, 9, 10, 64, 80, 162 and Phase-II.

The institutional basket include plots for senior secondary schools, hospitals, old age homes, and corporate offices. Plots for institutions will not be assigned through e-auction, like in the case of industrial and commercial plots. The plots for senior secondary schools under this category are plots for one school plot in Sector 19 whose size is 18,954 sqm costing ₹143 crores, and the other plot is in Sector 42 with the minimum reserve price of ₹21 crores. There are two hospital plots under this category; one is in Sector 117 with the size of 10,000 sqm costing ₹70 crores and the other is in Sector 145 with the size of 10,224 sqm costing ₹89 crores.

The authority has also provided land parcels for nursing homes and corporate office complexes. One such 1,160 sqm parcel in Sector 47 is being sold at ₹18 crore, and another parcel of 1,000 sqm in Sector 41 is tagged at ₹11 crore. In addition, two corporate office sites of roughly 1,950 sqm each, located in Sector 153, are available for ₹18.6 crore each.

The most expensive offering within this scheme is the one that belongs to the commercial builders group. There has been an offering of 29,408 sqm of commercial land in Sector 18 for which the reserve bid stands at ₹758 crore, and it is the most expensive land being offered in the current scheme. Another two big plots of commercial land in sectors 96 and 93B have been offered at ₹401 crore and ₹547 crore respectively. Among other commercial plots, there is a plot of 10,031 sqm size in Sector 94 which has been given a reserve price of ₹186 crore and 2,536 sqm plot in Sector 18 with the asking price of ₹99 crore.

There are also three plots allotted for hotel purposes, one each in sectors 71, 124 and 142 at prices of ₹148 crore, ₹245 crore and ₹159 crore respectively. Officials expect that hotel plots will be favoured because of increased commercial activity and airport-related business travel.

According to the officials, the present plot plan is based on the growing requirement for commercial and institutional lands due to increasing expansion of infrastructural development in Noida along with the connectivity via expressways and coming up airport. It is expected that developers, industrial houses, institutional houses, and hospitality industry will show interest in such projects.