GREATER NOIDA, Aug. 8 -- The Greater Noida authority has sold five group housing plots to realtors, including Godrej, Dubai based Sobha Limited and others, collecting a revenue of Rs.1,500 crore, which is double the reserve price of these plots, said authority officials.

The authority said developers are purchasing group housing land at double the rate in online bidding owing to the demand for housing in the industrial town.

Dubai based Shobha Limited has bought a group housing plot for the first time to develop an "ultra luxury" housing project.

"There is a demand for quality housing products in this city and these new developers entering the market will cater to the growing demand. We are happy to collect double the reserve price as ...