A month after it pulled off the countrys largest land auction at a record Rs 5,006 crore, Noida appears all set for another round of fierce bidding. The Noida Authority would invite, next week, bids for 12 hotel plots worth at least Rs 1,400-1,500 crore, and real estate majors, including DLF and Parsvnath, may participate in the bidding process.
Of the 12 plots, five are for five-star hotels, another five for three-star hotels and two for four-star hotels. The reserve price has been fixed at Rs 77,000 a sq. m. We have already sold 100 forms and the response is quite strong, a senior official said.
Last month, even amid reports of softening of land prices in certain pockets, realty deals once again came under the spotlight when the Delhi-based BPTP Group snapped up 95 acres of prime commercial land at Noida for Rs 5,006 crore, marking the largest land deal in India.
More : thehindubusinessline.com
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