Noida: NMRC offers plots near Okhla Bird Sanctuary station

23 Sep 2024 CW Team

The Noida Metro Rail Corporation (NMRC) has announced an expression of interest (EOI) for the commercial development of three plots, covering a total area of 44,151 sqm, near the Okhla Bird Sanctuary metro station. These plots, situated close to prominent high-rise buildings such as Supertech's Supernova and institutions like Amity University, are now available for development.

NMRC, which operates the Aqua Line spanning 29.7 km from Sector 51 to Depot Station in Greater Noida, noted a significant rise in ridership since its inception in January 2019, with daily passenger numbers increasing from 18,000 in 2019 to 55,000 by 2024. The corporation highlighted that it owns land adjacent to the Okhla Bird Sanctuary metro station and, in the EOI document, stressed the importance of sustainable project operations through innovative revenue models and project structuring.

The document further explained that globally, many transport systems have adopted innovative strategies to fund projects through commercial property development. NMRC aims to select a suitable developer, concessionaire, or licensee for the development of Plot FC 04, located in Sector 94 near Okhla Bird Sanctuary Metro Station, under a public-private partnership model through an open bidding process.

According to officials, the EOI process seeks to attract experienced firms, developers, and institutions with proven expertise in areas such as commercial real estate development, project management, financing, marketing, design, leasing, and property management.

The plots are allocated for commercial purposes as per the Noida Master Plan and the Noida Building Byelaws 2010, with a lease period of up to 60 years from the date of execution. Developers are expected to design structures with a lifespan exceeding 100 years.

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