+
Ghaziabad Development Body earns Rs 580 million from property auctions
Real Estate

Ghaziabad Development Body earns Rs 580 million from property auctions

The Ghaziabad Development Authority (GDA) achieved a record single-day revenue of Rs 580 million by auctioning 23 properties across various housing schemes, including Indirapuram Extension. Most of the auctioned properties were residential plots, with 14 plots from the Karpuripuram scheme alone raising Rs 182 million. Additionally, the Indirapuram housing scheme brought in Rs 379 million through the auction of two commercial and three residential plots, according to Pradeep Singh, GDA's additional secretary.

Other residential plots auctioned from schemes in Govindpuram, Radhakunj, Shastri Nagar, and UP Border generated revenues of Rs 5.72 million, Rs 14 million, Rs 20 million, and Rs 2.1 million, respectively.

“This revenue boost will help us build financial reserves for the Harnandipuram township project,” Singh stated. Indirapuram Extension, one of GDA’s latest projects, spans 30,000 square meters and is divided into 47 residential and three commercial plots.

In August, GDA’s board approved a plan to subdivide the Indirapuram Extension land into smaller plots, setting circle rates at Rs 95,000 per sqm for residential and Rs 115,000 per sqm for commercial properties. The authority aims to generate over Rs 2.85 billion from this scheme.

The success of recent auctions also bodes well for the Harnandipuram township, which will cover 521 hectares with an estimated development cost of Rs 100 billion.

(ET)

The Ghaziabad Development Authority (GDA) achieved a record single-day revenue of Rs 580 million by auctioning 23 properties across various housing schemes, including Indirapuram Extension. Most of the auctioned properties were residential plots, with 14 plots from the Karpuripuram scheme alone raising Rs 182 million. Additionally, the Indirapuram housing scheme brought in Rs 379 million through the auction of two commercial and three residential plots, according to Pradeep Singh, GDA's additional secretary. Other residential plots auctioned from schemes in Govindpuram, Radhakunj, Shastri Nagar, and UP Border generated revenues of Rs 5.72 million, Rs 14 million, Rs 20 million, and Rs 2.1 million, respectively. “This revenue boost will help us build financial reserves for the Harnandipuram township project,” Singh stated. Indirapuram Extension, one of GDA’s latest projects, spans 30,000 square meters and is divided into 47 residential and three commercial plots. In August, GDA’s board approved a plan to subdivide the Indirapuram Extension land into smaller plots, setting circle rates at Rs 95,000 per sqm for residential and Rs 115,000 per sqm for commercial properties. The authority aims to generate over Rs 2.85 billion from this scheme. The success of recent auctions also bodes well for the Harnandipuram township, which will cover 521 hectares with an estimated development cost of Rs 100 billion. (ET)

Next Story
Infrastructure Urban

Welspun One Expands Portfolio With Rs 7 Billion Pune Land Deal

Welspun One Logistics Parks has purchased 70 acres of land in Pune for Rs 7 billion to develop a warehousing and industrial project. The acquisition, located in a strategic logistics corridor, is expected to cater to rising demand from e-commerce, manufacturing, and third-party logistics sectors.The company said the project will feature modern warehousing infrastructure, sustainable building practices, and technology-driven operations to improve efficiency and reduce environmental impact. This investment aligns with Welspun One’s strategy to strengthen its pan-India footprint and expand its ..

Next Story
Infrastructure Urban

Rs 16.85 Billion Pune Logistics Hub Project Speeds Up

Work on the Rs 16.85 billion multi-modal logistics hub at Chakan, Pune, is progressing rapidly, with the project expected to transform freight movement in the region. The facility is being developed under the Centre’s flagship Bharatmala Pariyojana scheme to enhance India’s logistics efficiency.Spread over a vast area, the hub will integrate road, rail, and warehousing infrastructure to enable seamless goods transfer and reduce transportation costs. It is also expected to ease congestion on key freight corridors and improve supply chain reliability for industries in Pune and beyond.Officia..

Next Story
Real Estate

Macrotech Developers Q1 Sales Jump 39 Per Cent To Rs 53.6 Billion

Macrotech Developers Ltd, which operates under the Lodha brand, has reported a 39 per cent year-on-year rise in sales bookings to Rs 53.6 billion for the quarter ended June 2025, compared with Rs 38.6 billion a year earlier.The company attributed the growth to strong housing demand across key markets, with mid-income and luxury segments performing particularly well. Macrotech plans to launch projects covering 5.8 million square feet in the coming quarters to capitalise on this momentum.During the quarter, collections stood at Rs 32.8 billion, while project completions and timely deliveries hel..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?