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)

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?