The Ghaziabad Development Authority (GDA) has kickstarted the new financial year with a highly successful property auction, generating a substantial revenue of Rs 194 crore. This marks the authority's first major auction of 2025 and demonstrates robust investor confidence in the region's real estate market.
Record-Breaking Land Sales in Madhuban Bapudham
The auction saw intense bidding, particularly for plots in the Madhuban Bapudham (MBD) housing scheme. In Pocket A of MBD, three separate land parcels, each measuring 2,382 square meters, were sold at prices far exceeding their base rate of Rs 52,500 per square meter. The final hammer prices settled at Rs 66,500, Rs 67,100, and Rs 67,300 per square meter, collectively bringing in Rs 47 crore for the GDA.
Further adding to the revenue, another large plot in MBD, spanning 8,875 square meters, was auctioned at Rs 53,200 per square meter against a base price of Rs 52,500/sqm. This single transaction contributed another Rs 47 crore. An adjacent plot of 8,355 square meters was sold for Rs 53,000 per square meter, fetching Rs 44 crore. In total, the eight land parcels offered under the MBD scheme alone garnered a whopping Rs 173 crore for the development authority.
Additional Commercial and Institutional Sales
Beyond the residential plots, the auction also included commercial land in Indirapuram Extension. A 260 square meter commercial plot was sold for Rs 11.5 crore, while a smaller 135 square meter piece of land fetched an impressive Rs 23 crore. In a separate category, a hockey stadium located in Shastri Nagar was auctioned for Rs 8,99,000, significantly higher than its reserve price of Rs 3,99,300.
This year's initial auction revenue of Rs 194 crore has already surpassed the record set in October last year, when the GDA earned Rs 98 crore from the sale of 15 properties.
Policy Changes Fueling Market Optimism
Officials attribute the strong investor response to recent policy reforms by the Uttar Pradesh government. The revised UP Building Bylaws 2025 are a major catalyst, promoting vertical development and allowing for the construction of taller buildings. This ensures sustainable urban growth while making projects more viable for developers.
"The new bylaws will significantly enhance the permissible Floor Area Ratio (FAR), providing a major boost to group housing projects," a GDA official stated. This change directly increases the potential profitability of land parcels, making them more attractive for real estate companies.
Furthermore, the introduction of the Model Costing Guidelines—Basic Principles 2025 is expected to positively influence buyer sentiment. The official added that this guideline could lead to an average reduction in property costs by up to 25%, making housing more affordable and stimulating demand.
Unsold Inventory and Future Prospects
Despite the auction success, the GDA still holds a significant inventory of unsold dwelling units. Across at least five different housing schemes, over 1,748 flats remain on the market. These units range from Economically Weaker Section (EWS) flats priced around Rs 5.72 lakh to premium options costing up to Rs 69.42 lakh. The available configurations include 1, 2, and 3 BHK apartments, as well as mini LIG, LIG, and EWS categories.
The combination of strategic land auctions and progressive policy reforms positions Ghaziabad's real estate sector for a phase of accelerated and sustainable growth in the coming years.
