India, Sept. 10 -- The Noida authority on Wednesday said it sold five commercial plots for Rs.3,300 crore during an auction on Tuesday evening, with one particular plot with a reserve price of Rs.836 crore, being sold for Rs.1,839 crore.

Located in Sector 108, along the Noida-Greater Noida Expressway, the commercial mixed-land-use plot, measuring 49,932 square metres (sqms), was sold after the realty firm M3M India placed the highest bid during the e-bidding, they added.

"The authority sold the plot for a price, which is 120% more than the reserve price of Rs.836 crore. In the past, the authority sold commercial plots for only 10% more than the reserve price. This is the highest bid for a commercial plot in Noida in the past two decades...