The new commercial plot scheme by the Noida Authority includes the last batch of hotel land that could not attract buyers in 2006. This scheme offers a promising opportunity for investors, entrepreneurs and businesses to set up hotels in prime locations in Noida. Read on to know the details of the Noida Commercial Plot Scheme and application process:
Noida Commercial Plot Scheme: About the scheme
The Noida Commercial Plot Scheme was launched in 2006, offering 25 hotel plots ahead of the 2010 Commonwealth Games. However, it faced legal challenges as the plots were sold at prices lower than market rates, causing a significant loss to the authority. After 18 years, the scheme is back to offer the last batch of hotel plots along the Noida-Greater Noida Expressway. The initiative is expected to generate over Rs 1,000 crore in revenue for the authority.
Six hotel plots are available, with plot sizes ranging from 2,000 to 24,000 sq m. These plots are located in sectors along the Noida-Greater Noida Expressway, making them attractive locations for the hospitality sector.
Noida Commercial Plot Scheme: Important dates & details
Here is all the information about important event and respective dates for the Noida Commercial Plot scheme:
| Event | Date |
|---|---|
| Brochure sale and online registration | September 23, 2024 |
| Pre-bid meeting | October, 10, 2024 |
| Bid submission start date | October 17, 2024 |
| Bid submission end date | November 9, 2024 (by 5 PM) |
| Security deposit requirement | Applicants must submit 10% of the reserve price as a security deposit. |
Source: Noida Authority
Noida Commercial Plot Scheme: Details of plots
The plots offered under this scheme are suitable for developing different categories of hotels, including three-star, five-star properties and budget hotels. Here is a detailed description of the size, category and prices of plots:
| Serial number | Sector | Plot number | Area (Sq m) | Floor area ratio (FAR)/ Ground coverage | Total reserve price (in Rs) | Earnest money deposit (EMD) (in Rs) |
|---|---|---|---|---|---|---|
| Category 1 (Budget hotels) | ||||||
| 1 | 93B | COMM-02 | 2,000 | 3 / 40% | 44,08 crore | 4,40,80,000 |
| 2 | 93B | COMM-02A | 2,000 | 3 / 40% | 44,08 crore | 4,40,80,000 |
| 3 | 93B | COMM-02B | 2,090 | 3 / 40% | 45,61,98,930 | 4,56,19,893 |
| Category 2 (Star category hotels) | ||||||
| 4 | 105 | SDC-H-2 | 7,500 | 3 / 40% | 1,38,18,52,500 | 13,81,85,250 |
| 5 | 142 | 11B | 5,200 | 3 / 40% | 98,83,22,400 | 9,88,32,240 |
| 6 | 135 | H-2 | 24,000 | 3 / 40% | 4,10,70,00,000 | 41,07,00,000 |
Source: Noida Authority
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Noida Commercial Plot Scheme: Points to remember
Here are the important points that you should remember for a smooth application process:
- Six hotel plots are available in different sectors of Noida
- These plots are the last batch offered by the authority for hotel development
- The scheme is conducted through an e-auction to ensure transparency and accountability
- Plots are located along the Noida-Greater Noida Expressway
- The brochure with detailed terms and conditions for the E-auction process is available on the portals: SBI e-tendering and Noida Authority Online.
- The authority reserves the right to withdraw any or all plots, accept or reject bids, or cancel/postpone the E-auction at any stage without providing a reason
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Noida Commercial Plot Scheme: How to apply?
Below is the step-by-step procedure to apply for Noida Commercial Plot Scheme:
Step 1: Interested parties need to register on the https://nda.etender.sb portal.
Step 2: After registering, participants are required to deposit a non-refundable and non-adjustable amount separately for each advertised property.
Step 3: Applicants can submit bids on https://nda.etender.sbi website from October 17, 2024, to November 9, 2024.
Step 4: The highest bidder against the reserve price will receive the allotment letter, and the plot will be assigned per the authority's procedure.
To know the detailed terms and conditions for the E-auction process, the applicants can download brochure that are available on the portals: SBI e-tendering and Noida Authority Online. However, the applicants should remember that the authority reserves the right to withdraw any or all plots, accept or reject bids, or cancel/postpone the E-auction at any stage without providing a reason. Overall with limited land available and a transparent bidding process, it is an attractive option for anyone looking to enter the hospitality market in Noida.
