Greater Noida Authority to conduct E-auction of commercial plots soon

Greater Noida Industrial Development Authority (GNIDA) officials held a meeting with developers on Tuesday to discuss allotment of commercial plots that will be done through e-auction for the first time.

Officials said that for the first time, GNIDA will allot plots that have already been acquired and those can be handed over to developers within 30 days of the auction. The date of the auction is yet to be finalised. Additionally, for the first time, developers will have three payment options.

They can either pay the entire amount upfront and get a five per cent discount or pay over a period of two years and avail two per cent discount. The third option is to take possession and start construction on the plots by paying 30% upfront. The remaining 70% can be paid over four years.

Officials said competition would be organised for allotment of commercial property in Knowledge Park 2, opposite India Expo Mart.