Confirms that Sector 108 has not yet assigned a land parcel to LuLu Group. 

Applications have been requested by the Noida Authority for 14 commercial builder plots in sectors 108, 124, 132, and 135 of the satellite cities. These commercial and mixed-use plots, which range in size from 871 square metres to 51,417 square metres, are open for business bids, according to officials. 

According to insiders, the scheme was supposed to finish on March 31 but that it will likely be postponed by one week. 

E-auctions will be used for the allotments. 

When asked if the LuLu Group, which has its headquarters in the United Arab Emirates, had received property in Sector 108 for the construction of a mall and a hotel, officials said that no such allotments have been made as of yet. 

“Any businesses who want to occupy commercial premises must submit a bid. There is a procedure that must be adhered to. The documents of individuals who participate will be examined following the bid because this is a continuous programme. The allocation letter will be sent to the highest bidder, one of them remarked. 

The individual said that LuLu Group and the authority had already signed a memorandum of understanding, and that the group will invest Rs 2,500 crore in Noida. 

The authority announced its plan to allocate 14 commercial plots on February 20. The deadline for applications was March 13, but due to a lacklustre response, the plan was extended twice, first until March 20 and then again until March 31. 

We now intend to extend the programme by an additional week. Orders in this regard are anticipated to be given on Monday. The extension means that the programme will end on April 11 or 12. So, those who are interested now have extra time to apply. After the programme is finished, bids will be accepted, and only then will we be able to learn more about the applicants, a source stated. 

According to representatives, the authority is hoping for a positive response given the previous deadline was extended. Sectors 32, 35, 40, 50, 94, 96, 108, 124, 132, and 135 contain the commercial plots. 

Buyers must register on the website https://property.etender.sbi and deposit a non-refundable and non-adjustable processing fee, separately, against each plot, according to officials with the authority. They stated that only when each plot has a minimum of three applications would the e-auction be held. 

At the UP Global Investors Summit last month, MA Yusuff Ali, the chairman of LuLu Group based in the UAE, declared that the company will be investing Rs 6,000 crore in the state. 

The malls in Gorakhpur, Prayagraj, and Varanasi are my upcoming ventures. I already have a LuLu Mall set up in Lucknow. In Noida, I’m also building a food processing facility. In order to build a new food processing facility in Jhansi, I would be buying 100 acres of land there. I have made the decision to invest a total of Rs 50,000 crore, the Hindustan Times said.