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Noida authority offers three commercial plots near Okhla Bird Sanctuary station

Sep 18 2024

Noida authority offers three commercial plots near Okhla Bird Sanctuary station

The Noida Metro authority has issued an expression of interest (EOI) for the commercial development of three plots totaling 44,151 sqm near a metro station close to the Okhla Bird Sanctuary. These plots, located near high-rise buildings and educational institutions, are available for development.

Currently, the metro line stretches 29.7 km from Sector 51 to Depot Station in Greater Noida. Since its launch in January 2019, daily ridership has grown from 18,000 passengers in 2019 to 55,000 in 2024.

The authority stated that it owns properties adjacent to the metro station. The EOI emphasizes the need for sustainable project operation through innovative revenue strategies and project structuring. The process aims to attract experienced firms, developers, and institutions with proven expertise in commercial real estate development, including project management, financing, marketing, design, leasing, and management.

The plots are designated for commercial use under the Noida Master Plan and Noida Building Byelaws 2010, with a lease period of up to 60 years from the execution date. Developers are expected to design buildings with a lifespan of 100 years or more.

 

 

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