IITGNL Board Opens Group Housing & Commercial Plot E-Auction Scheme Near Bodaki

What was decided

The decision to launch the scheme was made during a recent IITGNL board meeting. The board approved opening online applications for the township's first group housing scheme in Greater Noida, offering plots of different sizes via online auction, in the township that spans 750 acres near Bodaki railway station. Alongside the residential scheme, allotment rates for industrial and commercial plots in the integrated township have also been announced.

IITGNL is not an independent municipal body — the smart township is a joint venture between Greater Noida Industrial Development Authority (GNIDA) and Delhi Mumbai Industrial Corridor (DMIC), operating under the National Industrial Corridor Development Corporation (NICDC) framework. The township itself has been notified as an Industrial Development Authority by Government of Uttar Pradesh under Section 3(1) of the Uttar Pradesh Industrial Area Development Act, 1976 vide Notification Number 4478/77-4-18-12N-07(SHA) dated 31st December, 2018.

Group Housing Scheme — operative details

The scheme offers three group housing plots of differing sizes, priced on a per-square-metre reserve basis. Out of three group housing plots, one plot is 19,503 square metres, the second plot is 34,247 square metres, and the third plot is 56,329 square metres; on the basis of the reserve price, the total price of these three plots has been fixed at about Rs 473 crore.

Allotment of these plots will be done through an online auction; the applicant who bids the highest will be allotted these plots. Terms carried in the standard IITGNL group housing brochure specify that allotments will be on a 90-year leasehold basis, with developers obligated to fulfil financial commitments within 90 days and adhere to approved layout plans, with project completion and obtaining occupancy certificates within seven years imperative. Consortiums are permitted but with stipulations ensuring project consistency until completion, and the lease deed will be executed in favour of a Special Purpose Company (SPC) formed by consortium members.

Commercial Plot Scheme — operative details

A parallel commercial scheme was opened for two plots. Out of two commercial plots, one is 10,800 square metres and the other is 23,530 square metres; based on the reserve price, the total price of these two plots is around Rs 247 crore.

Both the group housing and commercial schemes use the same procedural framework: facilities for registration, application, fee deposit, and e-auction in these schemes will be on the portal of the Bank of Baroda, and brochures for both schemes are made available on the IITGNL website.

Allotment rates announced for industrial and commercial land

As part of the same round of decisions, IITGNL fixed per-square-metre reserve/allotment rates across land-use categories. One November 30, 2024 report on the launch put these 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. The same report separately noted 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, describing these as reflective of the increasing demand for industrial and commercial spaces in Greater Noida, which is emerging as a hub for businesses and industries in northern India.

Note on sourcing: coverage of this launch varies slightly across outlets — some reports describe the group housing component as three plots totalling about Rs 473 crore (matching the IITGNL/Bank of Baroda scheme brochures), while at least one outlet described four plots and a combined reserve value of roughly Rs 1,100–1,123 crore. Readers should verify exact plot counts and prices against the IITGNL scheme brochure before bidding.

Practical effect for developers and investors

The opening of applications means developers can now register on the Bank of Baroda e-auction portal, pay earnest money, and prepare bids for specific plots; 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. Because allotment goes to the applicant who bids the highest, final sale prices are expected to run above the announced reserve rates. Successful bidders take a 90-year lease, not freehold ownership, and are bound to construction and occupancy-certificate deadlines rather than being free to hold land indefinitely.

For the wider township, IITGNL frames the launch as part of building out mixed-use activity around an already-active industrial base: prominent companies like Haier Electronics and Forme Mobile have established operations here, with several other firms setting up their facilities, and this growing industrial presence will likely enhance the area's demand for residential and commercial spaces.

Township context: location, size and legal basis

The Integrated Industrial Township, Greater Noida (IITGN) is a world class smart industrial township developed as an early bird project at Greater Noida region of the Delhi Mumbai Industrial Corridor, comprising a total area of 302.06 Hectare (747.50 Acres) having industrial land (50.78%) and commercial/mixed use land (5.83%), with the remainder allocated to residential group housing and other uses. The township is built on a plug-and-play system with a 24-hour supply of electricity and water, and is equipped with automated waste collection, and has 75% open area and green spaces and parks, with a dedicated pedestrian pathway and 2.5-metre-wide cycle track provided throughout.

A related but separate scheme: Greater Noida Authority's 8-plot Group Housing Scheme

Distinct from the IITGNL launch, the Greater Noida Industrial Development Authority (GNIDA) itself — the parent authority, not the IITGNL subsidiary — separately ran its own group housing e-auction. These plots are situated in sectors Mu, Omicron, Eta, Sigma, 36, and 12, and covered a smallest plot of 3.5 acres in Sector 36, a 4.5 acre plot in Sector Mu, a 7.5 acre plot in Omicron 1A, a 7 acre plot in Sector Eta 2, two plots of 7.5 acres and 9.5 acres in Sigma 3, and two plots of 5.5 acres and 8 acres in Sector 12. Pricing under this GNIDA scheme ranged from ₹36,500 to ₹48,300 per square meter, totalling over ₹970 crores, with the same 90-day payment and seven-year occupancy-certificate rules as the IITGNL scheme. This GNIDA scheme was notable because, according to one report, after more than 13 years, the authority had finally announced the cooperative housing plot scheme — underscoring that group housing land releases in the wider Greater Noida area have been infrequent, making the IITGNL launch a distinct milestone specifically for the industrial township.