A recent mega deal by the Noida Authority with high-profile real estate companies has sparked curiosity about the real estate term ‘land parcel.’ The big real estate players such as Max Estates Limited (Max Estates) and M3M India have bagged land parcels auctioned by Noida Authority for about ₹711 crore and ₹400 crore respectively. This deal was a part of a project in which Uttar Pradesh is planning a major push to expand its industrial land reserves. The state aims to unlock land parcels held by development authorities, including Noida and Greater Noida in the NCR, to create an industrial land bank exceeding 150,000 acres within the next 2-3 years. Currently, the state already boasts a land bank of nearly 54,000 acres, laying the groundwork for its ambitious expansion. Now what does this ‘Land Parcels’ implies?
What Exactly Is A ‘Land Parcel’?
A land parcel refers to a defined piece or plot of land that is typically surveyed, mapped, and documented for ownership or development purposes. It is often identified by specific boundaries and can vary in size, shape, and use.
In real estate, a land parcel may be used for various purposes, such as residential, commercial, agricultural, or industrial development. It can also be bought, sold, or leased as a single unit or subdivided into smaller plots. The term is commonly used in government, urban planning, and real estate transactions to describe a distinct section of land.
Uttar Pradesh Looking To Unlock Land Parcels
According to various reports, UP’s project will also include Yamuna Expressway Industrial Development Authority (Yeida), UP State Industrial Development Authority (Upsida), UP Expressways Industrial Development Authority (Upeida), Gorakhpur Industrial Development Authority, and Satharia Industrial Development Authority. Noida, Greater Noida, and Yeida account for a third of the over 42,000 industries hosted by the various industrial development authorities.
Invest UP is in the process of doing a detailed survey of industrial units managed by development authorities through agnecy. The goal is to identify and repurpose unused or underutilized prime industrial land from defunct units, making it available for new investors. This effort will also help create a comprehensive database to better manage and optimize land resources.
Yogi Adityanath Led-Government’s Plan
According to a Business Standard report, the UP governmnet is looking to expand the total land bank to 82,000 acres by the end of the current financial year (FY25). About 21,751 acres were acquired in the first six months (Apr-Sep) of FY25. An additional 60,000 to 80,000 acres will be needed to meet the state’s goal of a $trillion economy.
The state is revising its policies to draw new investments across a range of sectors, including defence manufacturing, exports, food processing, IT, manufacturing, energy, infrastructure, services, data centers, education, tourism, and dairy.
Noida Authority’s ₹1100 Crore Land Parcel Deal
Max Estates Limited (Max Estates) has announced that the company along with its consortium partners, have acquired 10.33 acre mixed land use parcel at a strategic location in Sector 105 on Noida-Greater Noida Expressway for ₹711 Crore. This acquisition opens the door to developing a massive 2.6 million square feet of space, with 40% dedicated to residential group housing and 60% allocated for commercial use, including offices, retail spaces, and service apartments.
The project holds immense potential, with an estimated Gross Development Value (GDV) exceeding ₹3,000 crore and an annual rental income potential of over ₹140 crore. The land purchase is structured with a flexible payment plan, requiring an upfront payment of ₹284 crore, with the remaining amount spread across eight half-yearly installments.
