Real estate firm Shree KB Realty has purchased a land parcel measuring 12,000 square metres approximately 2.97 acres, in Greater Noida West for ₹122 crore, including lease rent and stamp duty charges. The land was secured through a competitive auction conducted by the Greater Noida Authority. The developer plans to build a commercial project with a total built-up area of 8.5 lakh square feet on the acquired plot. Noida-based Shree KB Realty, established in 2005, has delivered over 5.5 lakh sq ft of residential and commercial space across Delhi-NCR, making this its most significant single land acquisition to date. The move reflects growing developer confidence in Greater Noida West as a commercially viable destination, driven by the maturation of its surrounding residential catchment.
The Land Acquisition – How It Was Structured
The land was secured through an auction conducted by the Greater Noida Authority and the ₹122 crore consideration includes lease rent and stamp duty charges. Authority-auctioned land in Greater Noida is allotted on a 90-year leasehold basis, with the developer holding rights to build and sell commercial units within the approved land use parameters. For buyers of commercial units within the eventual project, this leasehold structure is an important due diligence point, title clarity and lease transfer provisions should be verified before any purchase commitment.
What Will Be Built and Why Greater Noida West
Founder Rakesh Singhal stated that the 8.5 lakh sq ft commercial development is being planned in direct response to strong demand for commercial spaces in Greater Noida, driven by the completion of a large number of residential projects in the area. This is a demand dynamic that has been building steadily. Greater Noida West also known as Noida Extension, now hundreds of completed and near-complete residential towers, creating a dense residential population that is underserved by organised commercial infrastructure, retail, office, and mixed-use supply has not kept pace with the residential density, and developers are now moving to bridge that gap through large format commercial projects.
What It Means for Commercial Property Investors
An 8.5 lakh sq ft commercial development in a single project is a significant supply addition for Greater Noida West. For investors evaluating commercial units in this belt, the entry of an established NCR developer through a government-auction route adds a layer of credibility to the submarket. Commercial units in authority-auctioned projects typically carry cleaner title structures than privately assembled land deals. Investors should monitor project registration under RERA UP once the project is formally launched, and verify the development timeline and unit delivery schedule before committing to any pre-launch or early stage booking.
Why This Micro-Market Matters
Greater Noida West sits at the intersection of the Noida, Greater Noida Expressway and the upcoming Jewar Airport corridor, giving it both near-term residential catchment and long-term infrastructure tailwinds. The acquisition underlines the increasing attractiveness of Greater Noida as a commercial destination, supported by improving infrastructure, a growing residential catchment, and expanding business activity across Delhi-NCR.
