The Noida Authority will soon float tenders to take up commercial development of a plot between Sector 51 and 52 metro stations that is supposed to have a foot over bridge (FOB) connecting the two stations on Aqua Line and Blue Line.
The Sector 51 station is part of Aqua Line under Noida Metro Rail Corporation (NMRC) and Sector 52 is part of Blue Line under Delhi Metro Rail Corporation (DMRC).
The FOB is likely to increase the number of ridership in the corridor. At present, around 17,000 commuters use Aqua Line daily.
The Noida Authority have prepared the documents and will follow the due procedure to auction the property. Moreover, developer and a multinational furniture retailer, have expressed interest in the property.
The area of the plot is 48,000 sq mtr and will be auctioned at a reserve price of Rs 1.59 lakh per sq mtr, taking the total reserve cost of the property to over Rs 760 crore.
Though the price of the commercial property is high, the authority cannot reduce the reserve price.
The Noida Authority’s contract with a group that bids for the 48,000 sq mtr plot will include construction of the FOB as a compulsory clause.