Noida, India, February 18, 2007 - The Noida Authority has realised Rs. 2,550 crore from the sale of 300 acres of residential land to five builders.

Leading real estate developer Unitech has purchased two plots of 71 acres and 54 acres for Rs.1,050 crore. Other major purchasers include Parsvnath (72 acres for Rs.602 crore), Ambience (37.5 acres for Rs.323 crore), IVCRL (33 acres for Rs.274 crore) and Omaxe (37 acres for Rs.308 crore)

The land will be utilised for development of group housing societies. �We can make 4,500-5,000 MIG and HIG apartments in 72 acres of land at a price per sq ft of Rs. 3,500 � said Pradeep Jain, CEO of Parsvnath, quoted in news reports.