Land sold here in UP at gold rate, deal of 3 acres made for Rs 250 crore
You must have heard about the records of expensive land being sold, but in Uttar Pradesh, three acres of land was sold at such a high price that it broke all records. The 3 acre land is priced at Rs 250 crore.
HR Mandi Bhav: You must have heard many stories of inflation in land prices. But you will not believe your ears after hearing the record prices of land in Noida, Uttar Pradesh, near Delhi.
A 3 acre piece of land in Noida is priced at Rs 250 crore. This deal has been done for land in Sector 72 area of the city. This is considered to be the most expensive deal of the current era.
There will be an investment of Rs 600 crore
According to the information received, realty company M3M India has purchased three acres of land in Noida, Uttar Pradesh for Rs 250 crore.
It will invest an additional Rs 350 crore to develop a project comprising retail space and studio apartments here. The company will invest a total of Rs 600 crore in the development of this project located in Sector 72, Noida.
What is the original cost of the land?
The actual price of the land is Rs 180 crore but including registration fee and lease fee the price reached Rs 250 crore. This project will be completed in the next 24 months and the company is expected to earn revenue of Rs 1,200 crore from it. The company has committed to invest Rs 7,500 crore in Uttar Pradesh.
Purchases made in e-auction
M3M is a leading player in the property market of Gurugram, it entered Noida in 2022 and now intends to expand rapidly in Uttar Pradesh. M3M India said it had purchased this three-acre land in an e-auction conducted by Noida authorities.