Greater Noida Integrated Township to Launch First Group Housing Scheme, Eyes Rs 1,100 Crore Revenue

The Integrated Industrial Township Greater Noida Limited (IITGNL) is set to launch its first group housing plots scheme, expected to generate over Rs 1,100 crore in revenue. The move is part of efforts to develop a smart township with modern infrastructure. The group housing scheme will offer four plots of varying sizes, with prices fixed at Rs 44,400 per square meter for residential areas, Rs 23,900 per square meter for industrial plots, and Rs 75,400 per square meter for commercial properties.

IITGNL is a joint venture between the Delhi Mumbai Industrial Corridor (DMIC) and the Greater Noida Industrial Development Authority (GNIDA). It is designed to meet the needs of a modern urban environment and offers plug-and-play infrastructure along with an automatic solid waste management system. The township, spanning 750 acres near the Bodaki railway station in Greater Noida, will provide residential, commercial, and industrial spaces to meet growing regional demand.

A Step Forward in Township Development

The launch of the group housing scheme represents progress for IITGNL, which is working to enhance the real estate and urban landscape of Greater Noida. The four group housing plots, varying in size from 34,500 square meters to 94,000 square meters, will be sold through an e-auction process. The decision to launch the scheme was made during a recent IITGNL board meeting. Prerna Singh, the director of IITGNL, stated that the total reserve price for the plots is approximately Rs 1,123 crore, based on the approved reserve price for each plot.

The plots will be made available for bidding in a few weeks, and the e-auction process is expected to attract significant interest from developers, both from the National Capital Region (NCR) and other parts of India. This initiative is expected to impact the real estate market in the region, with many large developers expressing interest in participating.

Pricing and Revenue Expectations

The pricing structure for the group housing plots has been designed to reflect the growing demand for residential properties in the region. With a reserve price of Rs 44,400 per square meter for residential plots, IITGNL aims to offer an attractive option for developers seeking to tap into the region's expansion. The total value of the four plots, if sold at the base price, is expected to exceed Rs 1,100 crore, generating substantial revenue for the township's development.

Apart from residential plots, IITGNL has also set rates for industrial and commercial land parcels. The reserve price for industrial plots is Rs 23,900 per square meter, and the rate for commercial plots is Rs 75,400 per square meter. These prices reflect the increasing demand for industrial and commercial spaces in Greater Noida, which is emerging as a hub for businesses and industries in northern India.

A Smart Township for Modern Living

The IITGNL township is planned as a smart city that offers modern amenities and infrastructure to its residents. The integrated approach to urban development in Greater Noida aims to foster a balance of businesses, industries, and residential communities. The township will feature plug-and-play infrastructure, allowing businesses to set up operations without extensive construction or development work.

Additionally, the township will implement an automatic solid waste management system, contributing to sustainability and maintaining efficiency as it grows. This advanced system is part of the initiative to keep the area clean and functional.

Real Estate Opportunities for Developers

With the launch of the group housing scheme and the e-auction process, IITGNL anticipates interest from developers keen to invest in the region. The availability of four distinct plots of varying sizes allows flexibility in the types of residential projects that can be developed. Developers interested in participating in the e-auction will be able to register and submit their bids online, streamlining the process.

Several large builders from the NCR and other parts of the country have already shown interest in the project. The availability of modern infrastructure and the strategic location of the township near transportation links, such as the Bodaki railway station, make it an attractive proposition for developers and businesses.

Strategic Location and Growth Potential

Greater Noida has long been a prime location for industrial and residential development due to its proximity to Delhi and other urban centers. With the establishment of IITGNL, the area is expected to see significant growth in both commercial and residential real estate. The township's smart design and infrastructure appeal to businesses and residents seeking modern and efficient environments.

Several major companies already operating in the township, such as Haier Electronics, Forme Mobile, Satkriti Infotainment, Chenfeng (LED company), and J World Electronics, add to its reputation as a business hub. The ongoing expansion of industrial and commercial activity in the region is expected to drive demand for residential and commercial properties, benefiting developers and investors.