Noida, November 14 (IANS). Noida Metro Rail Corporation (NMRC) is going to build a commercial hub on a large plot in Sector 94. Developers will be taken to create a commercial hub.
For this, NMRC is going to issue expression of interest. In which one company will be selected from the incoming companies. This company will tell NMRC how a commercial hub can be operated on this land.
After this, the construction work will be done by issuing tender. It will be operated by NMRC. NMRC Executive Director Mahendra Prasad said that NMRC has about 3.75 hectares of land in Sector-94.
This land belongs to NMRC. DMRC also has some share in it. DMRC has given its consent to this. Construction will be done here. Even before this, the authority has brought its commercial plan on this land parcel.
When not a single company came twice, this land was given back to NMRC and DMRC. Now NMRC is issuing EOI for construction here. Metro wants to earn revenue from this land, hence NMRC has made this offer.
According to the information, as per Noida Master Plan and Noida Building Bylaws, commercial use is allowed on this much land. There is a plan by Metro to give this land to developers on lease for 30 and 90 years.
Five models are being worked on to plan the development of the land. In the first model, revenue can be generated by giving land on short term lease. The agency that will take it will do the development itself. In the second plan, there is a plan for joint development on special purpose vehicle. Thirdly, phase wise development of this land can be done. Fourth, land can also be given on long term lease. In the fifth plan, opinion will be taken from the developers as to how they can create a commercial hub here.
–IANS
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