Noida Finalizes Firm For New Cricket Stadium
NOIDA: The Noida Authority has finalized the price bid for a cricket stadium-cum-sports city, a project that will be developed across 125 acres of land, with 35 acres reserved for the cricket stadium.
The cricket stadium, which will have a seating capacity of 50,000, has been envisioned as a venue for Indian Premier League, national and international limited overs and Test matches. The sports city in Sector 152 will offer recreational as well as residential and commercial facilities.
According to Authority officials, the successful bid was placed by the ATS group. “The highest price bid by the group was settled at Rs 26,650 per sq m,” said an official. “The reserve price for the project, which was announced in June this year and received two bids in total, was Rs 26,200 per sq m,” the official added.
While the land cost of the project will be over Rs 1,340 crore, the stamp duty revenue it will generate for the state government will amount to Rs 80 crore. “The developer has to pay about Rs 67 crore as allotment money within 30 days,” he said.
Officials said that the project has been proposed as per the Building Regulations Act of Noida and its Master Plan-2031.
The aim is to create a world-class cricket stadium-cum-sports facility in Noida. Currently both Noida and Greater Noida have cricket stadiums with a capacity of 20,000.
“This project will go a long way in establishing sporting infrastructure and helping Noida become a global sports destination,” said officials.
The maximum permissible ground coverage of the entire land of about 125 acres will be 30% while a maximum permissible floor area ratio on the total land will be 2. While 70% of the space will house the cricket stadium, other sports facilities and open areas, 4% will be reserved for commercial use, and 26% for residential use.