The Grandvista Estate was successful in a private rezoning request with the Dunedin City Council in November last year, in having 21ha of rural land rezoned residential.
It recently received resource consent for the first 45 sections to be sold.
Minaret Resources director Murray Frost said the 155 sections might be sold in three or four tranches.
Thirty of the first 45 sections will be offered by auction on site this Sunday. The 850sq m to 1200sq m sections have reserve prices ranging from $115,000 to $145,000, which Mr Frost said was $30,000 to $50,000 less than comparable sections in Mosgiel.
The construction of the sub division infrastructure, including lighting, roading, electric ity and services is scheduled to begin in spring.
Titles for the properties are likely to be released in March next year.
Dunedin-based Minaret Resources has been involved in seven separate subdivisions in Central Otago, Christchurch and Taupo, worth $150 million in sales value, Mr Frost said.
