NOIDA: Noida Metro Rail Corporation (NMRC) has issued an expression of interest (EOI) for the commercial development of three plots totaling 44,151 sqm near Okhla Bird Sanctuary metro station. These plots, located close to high-rise buildings like Supertech’s Supernova and educational institutions like Amity University, are available for development.
Currently, NMRC operates Aqua Line, which stretches 29.7 km from Sector 51 to Depot Station in Greater Noida. Since its launch in Jan 2019, the line has experienced a notable increase in daily ridership, growing from 18,000 passengers in 2019 to 55,000 in 2024.
The corporation said that it owns properties adjacent to the Okhla Bird Sanctuary metro station. In the EOI document, NMRC emphasised the need for sustainable project operation through innovative revenue strategies and project structuring.
The document said, “Globally, most transport systems have adopted innovative methods to finance projects through commercial property development. NMRC intends to select a suitable developer, concessionaire, or licensee for the development of Plot FC 04 in Sector 94 near Okhla Bird Sanctuary Metro Station on a public-private partnership model through an open bidding process.”
According to officials, the EOI process aims to attract experienced firms, developers, and institutions with proven expertise in commercial real estate development, including project management, financing, marketing, design, leasing, and management.
The plots are designated for commercial use by the Noida Master Plan and Noida Building Byelaws 2010, with a lease period of up to 60 years from the execution date. Developers are expected to design buildings to last 100 years or more.
Source Homevior.in
