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The Greater Noida Industrial Development Authority (GNIDA) has launched a major commercial property scheme, offering 37 plots worth a combined INR 3,604 crore through e-auction. Located in key sectors such as Sector 3, 10, 12, Ecotech-1 Extension and Ecotech-12, the plots come under two FAR categories: FAR-4 for large vertical developments like malls, hotels and office towers, and FAR-2 for smaller commercial uses. GNIDA has set strict conditions, including a ban on plot subdivision or amalgamation and a five-year project completion deadline. Reserve prices are substantial, with several plots valued between INR 91 crore and INR 216 crore. Strong investor interest is expected, supported by Greater Noida's improving connectivity and upcoming airport.
The Greater Noida Industrial Development Authority (GNIDA) has unveiled one of its most ambitious commercial real estate schemes in recent memory. With a total reserve price pegged at INR 3,604 crore, the authority is putting up 37 plots for allotment via an e-auction, opening registrations from this week. Advertisement
These parcels are located in high-potential sectors - Sector 3, 10, 12, Ecotech-1 Extension and Ecotech-12 - and are available under two distinct Floor Area Ratio (FAR) structures. The FAR-4 plots are intended for large-scale, vertical developments such as malls, high-rise office towers, hotels, and banquet halls. In contrast, the FAR-2 plots are better suited for more compact commercial uses like shops, restaurants, and mixed-use establishments.
Importantly, GNIDA has imposed strict terms to ensure project quality and accountability: plots cannot be subdivided or amalgamated, and while consortium bids are allowed, the consortium structure must remain fixed until completion. Developers will need to complete their projects within five years of allotment, with the first phase due in three years.
Financially, the timeline for payments and documentation is clearly set. Bidders must submit the earnest money deposit (EMD) and processing fees by early December, and complete their document filings shortly after.
Some of the reserve prices per plot are eye-catching. In Sector 3, for instance, four FAR-4 plots of about 10,000 sqm each are valued at INR 105 crore apiece, while a slightly smaller 8,730 sqm lot is priced at INR 91.6 crore. Meanwhile, in Ecotech-12, five 20,000 sqm plots are each reserved at INR 187 crore, and the largest parcel (23,023 sqm) carries a reserve price of INR 216 crore. On the FAR-2 side, a 22,366 sqm plot in KP-V has a reserve value of INR 172 crore.
GNIDA officials are expecting strong participation from a wide spectrum of investors - including hospitality chains, institutional developers, retail companies and office space players. They cite robust interest due to Greater Noida's improving connectivity, particularly in light of the upcoming Noida International Airport and emerging industrial corridors.
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