GHAZIABAD: In its first auction of the year, the GDA generated Rs 194 crore from property sales.
In Madhuban Bapudham (MBD), Pocket A, three land parcels of 2,382 sqm each were sold at Rs 66,500/sqm, Rs 67,100/sqm, and Rs 67,300/sqm, surpassing the base price of Rs 52,500/sqm. This collectively brought in Rs 47 crore for the GDA.
Additionally, another land parcel of 8,875 sqm in MBD, reserved at Rs 52,500/sqm, was auctioned for Rs 53,200/sqm, contributing another Rs 47 crore. An 8,355 sqm land parcel sold for Rs 53,000/sqm against the same base price, adding Rs 44 crore to the development authority.
A total of 8 land parcels in the MBD housing scheme garnered Rs 173 crore for the GDA.
Moreover, in the Indirapuram Extension scheme, a 260 sqm commercial land parcel was sold for Rs 11.5 crore, along with another 135 sqm land parcel fetching Rs 23 crore.
A hockey stadium in Shastri Nagar was auctioned for Rs 899,000, exceeding its base price of Rs 399,300. Last October, the GDA achieved a revenue of Rs 98 crore through the sale of 15 properties, marking a record high.
Currently, there are over 1,748 unsold dwelling units developed by the GDA in at least 5 housing schemes, with costs ranging from Rs 5.72 lakh for EWS units to Rs 69.42 lakh across various schemes offering 1, 2, 3 BHK, mini LIG, LIG, and EWS flats. The recent amendment in the UP Building Bylaws 2025 has opened avenues for vertical development and the construction of taller buildings, promoting sustainable urban growth and attracting developers. “The new bylaws will significantly enhance the permissible Floor Area Ratio (FAR), greatly benefiting group housing projects,” stated an official.
“Additionally, the UP government’s introduction of Model Costing Guidelines—Basic Principles 2025 is expected to elevate buyer confidence, potentially reducing property prices by up to 25%,” the official added.
