GREATER NOIDA: A day after Noida finalized the developer for Sports City, price bids for a sports city and entertainment park in Greater Noida were finalized on Wednesday. The estimated cost of projects is over Rs 1,670 crore.
Officials said the three successful developers are Supertech Limited, Ultra Home group and RBA Buildtech Pvt Ltd. While the sports city will span 175 acres in Knowledge Park-V, the entertainment park will be developed across two plots measuring 100 and 130 acres in Sector 20.
“The goal of the two proposed projects is to develop comprehensive cities with huge open, green spaces. The idea is to provide residents with a unique lifestyle with leisure, sports and recreation spaces,” said GNIDA CEO Rama Raman.
“The highest price bid for the Sports City project was settled at Rs 12,852 per square meter,” said H K Verma, additional CEO, Greater Noida. “The reserve price for the project, which was announced last month and received three bids in total, was Rs 12, 690 per square meter. While one developer was disqualified in the technical bid process, two developers remained in the fray for the project,” he added. “The land cost of the project will be Rs 910 crore,” he said.
For the park, GNIDA received five bids. “Ultra Home group was successful in bidding for the 130 acre plot, while RBA Buildtech Pvt Ltd got the 100 acre plot,” Verma said. “The price bids for the two plots were approved at Rs 8,200 per square meter and Rs 8,100 per square meter, respectively. The land cost will amount to about Rs 760 crore ,” he added. The reserve price for the two had been fixed at Rs 7,725 per square meter.
The developer has to pay 5% of the total amount as reservation money within 30 days and another 15% within 90 days. This will generate about Rs 320 crore for GNIDA.The Sports City will house a 9-hole golf course and its maximum permissible ground coverage of the entire land of 175 acres will be 30%. A maximum permissible FAR (Floor Area Ratio) on the total land will be 1.5. While Officials said 70% of the space will house sports, open areas, 2% will be reserved for commercial use, and 28% for residential use, officials said. Facilities will include multipurpose playfields, indoor multipurpose sports hall, a hospital, internal roads and green spaces.
