E-Auction Of 259 Residential Plots In Noida To Start On July 19, 2019

The Noida Authority will hold the online auction to sell 259 residential plots in sectors 31, 39, 44, 47, 49, 51, 52, 99, 100, 122 and 93B from July 19-23, 2019 with the auction for each plot held separately. These plots are the ones that remained unsold or vacant in the Noida Authority's scheme, auction of which was held in December last year. 

The plots available are sized between 100 square metre (sqm) and 500 sqm. 

The online bidding will take place on https://property.etender.sbi/SBI/ in two time slots — from 11 am to 1 pm and from 3 pm to 5 pm. With the process going online for the first time, people from across the country can participate in the bidding process. 

What is the starting price?

While the minimum sale price for these plots would be based on the prevalent circle rates in the areas, the highest bidder would be awarded the land parcels. The price range of these plots will be between Rs 55,000 per sqm and Rs 1 lakh per sqm. The most expensive plots are located in Sector 44 while the least expensive are available in Sector 122.

According to officials, this could be the last time the Noida Authority would hold a plot auction since there are no fresh land parcels left for development. These plots remained unsold in previously held auctions. “If all these plots are sold through e-bidding, the authority will not come up with any new residential plot scheme,” Noida Authority Officer on Special Duty Rajesh Kumar was earlier quoted in Hindustan Times as saying.

How to participate in e-auction

*Visit https://property.etender.sbi/SBI/ 

*Login with your registered email ID and password set by you during registration process. 

*Click 'Auction' on left hand side and choose 'Search Auction'. You can search auction with auction ID. Once you find the relevant auction, choose, 'Click Here To Bid'.

*Agree to the terms and conditions after checking the details.

*Verify details before start bidding such as time remaining, starting price, increment, next possible bid etc. 

*Start the bidding from the auction start price or with one increment or multiple of increment. You need to enter your amount in 'Rate per sq mtrs in Rs' column. Verify your entered amount in Words and click on 'Bid' Button if your entered amount is ok .

*Accepted bid will be shown on screen. Fill in the amount and enter next possible bid in the “Rate in Rs” column and click on Bid.