Click to play videoNew Delhi: What was slated to be the country's biggest land deal in the making fell through the rough weather today.
Three hundred acres of land in the national Capital region, owned by the Noida Development Authority saw only three bidders out of the 36 applicants filing for the technical bids.
But seeing the massive protest against the bidding process, the fate of the deal now rests on the Allahabad High Court's decision.
Financial bids, that were to happen on Tuesday, have been postponed because of local traders protesting against the stringent qualification norms for allotments.
The major requirement is for bidders to have Rs 500 crore turnover; this is too high for individual players but paves the way for heavyweights like DLF, Unitech, Ansal properties and Parsvanath to enter as consortiums.
Earlier titled NRI city, the project is now called Express Way after protests by the local residents fearing that they will not be eligible for allocations after completion.
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