REAL estate in Greater Noida heats up with the recent group housing plot auction by the Greater Noida Authority triggering excitement and caution alike within the industry. The Greater Noida Authority set new records as they sold five highly sought plots through an online e-auction operated via the portal of State Bank of India, with 38 developers vying for them. These five plots, measuring 1,35,882 square meters-about 34 acres-sold for ₹1,500 crores. That's a whopping ₹762 crore more than the reserve price, and close to a 103% spike. Such intense interest and high bid prices have once again focused industry attention on Greater Noida as a hot development spot.
In this blog, we’ll look at the key details of these allocations, why people have quoted such high bids, and how this would or might influence the real estate market within Greater Noida. This round of allotments includes biggies like Godrej Properties and Sobha Limited along with many local developers such as SKA Group, and goes towards indicating a new era that has begun for market dynamics and pricing trends.
Let’s take a closer look at the plots, the winning developers, and what makes these investments particularly interesting.
1. Godrej Properties Limited – Sector 12, Greater Noida West
Plot Size: 32,250 sqm
Winning Bid: ₹1,36,743 per sqm
Total Price: ₹442 crore (128% above reserve price)
Godrej Properties acquired a prime plot in Sector 12, Greater Noida West, an area rapidly growing with residential developments. Located near Civitech Strings and projects by Eldeco, VVIP, Mahagun, and ACE, this acquisition sets the record for the highest land sale price in the area. Given Godrej's quick turnaround from acquisition to launch, the project.
2. Ashtech Industries Pvt Ltd – Sector 12, Greater Noida West
Plot Size: 22,558 sqm
Winning Bid: ₹1,30,743 per sqm
Total Price: ₹295 crore (118% above reserve price)
Another large plot in Sector 12 went to Ashtech Industries, a surprising yet strategic addition to their portfolio. Interestingly, Ashtech, a well-known player in fly ash, ready-mix concrete, and pre-engineered buildings, is new to direct real estate development. This indicates two possibilities: they could either launch their residential project or form a joint venture with an established developer to leverage this prime location. Either way, it will be fascinating to see how an industrial firm adapts to Greater Noida’s competitive real estate market.
3. Sobha Limited – Sector 36, Greater Noida
Plot Size: 13,938 sqm
Winning Bid: ₹1,16,012 per sq mt
Total Price: ₹161.7 crore (128% above reserve price)
Sobha Limited has entered the Greater Noida market with a strategic plot in Sector 36. A major name in Indian real estate, Sobha is expanding beyond its core markets. Located near the Noida International Airport and upcoming developments, Sector 36 is becoming a prime destination. This plot’s location positions Sobha to capitalize on rising demand. With the airport and infrastructure projects boosting Greater Noida’s appeal, Sobha’s bid underscores its intention to lead the next wave of premium developments in the area.
4. M/s Prasu Infrabuild Pvt Ltd – Sector Eta 2, Greater Noida
Plot Size: 28,265 sq mt
Winning Bid: ₹71,404 per sq mt
Total Price: ₹201.8 crore (34% above reserve price)
SKA Group, under Prasu Infrabuild, acquired a 7-acre plot in Sector Eta 2, near the Noida-Greater Noida Link Road and Aqua Line Metro Depot. The plot’s prime location enhances its value with excellent connectivity.
With a strong reputation for delivering over ten successful projects, SKA Group is expected to develop a well-planned residential project. Their track record and commitment to timely delivery make this acquisition the one to watch.
5. Godrej Properties Limited – Sector Sigma 3, Greater Noida
Plot Size: 38,771 sqm
Winning Bid: ₹1,03,243 per sqm
Total Price: ₹400 crore (113% above reserve price)
Godrej Properties scored a second plot in this auction, this time in Sector Sigma 3. The plot’s location is close to Surajpur-Kasna Road, placing it near popular landmarks like the Grand Venice Mall and Radisson Blu, making it highly desirable.The plot size of 38,771 sq m represents a major addition to Godrej’s portfolio, reinforcing their commitment to expanding in Greater Noida. With two substantial land purchases in this auction, Godrej has signaled a clear strategy to establish itself as a key player in the area’s future.
The soaring bids reflect optimism but also raise questions about future prices. With developers paying a premium, it’s unclear whether they’ll pass these costs to buyers or absorb some of the investment. As these new projects emerge, their effect on pricing, demand, and sales trends will be closely watched.
While property prices have generally remained steady in recent months in Noida/ Greater Noida, but in other markets, such as Gurugram, have seen slight dips, prompting developers to introduce attractive payment plans. In Greater Noida, developers with newly acquired plots may face similar pressures to balance premium pricing with market demand.
The Greater Noida Authority’s latest auction has injected a fresh wave of energy and intrigue into the real estate landscape. Whether these bids represent a new normal or a temporary spike, only time will tell. For buyers and investors, keeping an eye on how these new projects unfold could offer valuable insights into the future of Greater Noida’s property market.If you're looking to visit any of these locations, feel free to reach out to our team for an assisted site visit. Until next time, happy house hunting!
What is an e-auction and how does one participate in it?
E-auction is an e-platform for the auctioning of repossessed properties. To participate in the auction, one needs to log onto the e-auction portal and register; perform a 'know your customer' procedure, pay the EMD, and on the date of the auction place a bid on the property put up for auction across various locations.
What is the new Greater Noida Authority e-auction, and why is it so much in the news?
Recently, the Greater Noida Authority conducted an e-auction. It sold five prime plots for a record-breaking ₹1,500 crores. The e-auction was done through State Bank of India's auction portal online. Bidding reached new heights and the event has grabbed the attention of the public as Greater Noida is finally touted to emerge as a rising development hub.
How has Godrej and Sobha Limited performed in the latest Greater Noida e-auction?
Godrej Properties have bagged two prime plots in Sector 12 and Sector Sigma 3 e-auction, thereby crossing the reserve price that would in a way give the indications about confidence for Greater Noida. Sobha Limited acquired strategic land near Noida International Airport in Sector 36 to further strengthen its market.
What are the special features of the plots won by Godrej Properties and Sobha Limited in Greater Noida for further development?
Plots in Sector 12 and Sector Sigma 3 by Godrej are in emerging areas, thus ideal for future residential and commercial projects. Sobha Sector 36 plot is just next to the Noida International Airport, so that location is prime for high-demand developments, with improved connectivity.
Which developers have bought plots in the recently held Greater Noida e-auction?
Godrej Properties, Sobha Limited, SKA Group, and Ashtech Industries are some of the prominent local majors who won plots. Their acquisition shows interest from major developers and rising activity in the real estate market.
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