The Yamuna Expressway Industrial Development Authority (YEIDA) has taken a significant step by launching a new scheme aimed at the sale of group housing plots located in sector 22D along the Yamuna Expressway. Notably, this initiative marks the first allocation of such plots since the year 2014. This move comes after YEIDA’s previous endeavor to allocate three group housing plots earlier in the year resulted in no takers. The application process for this revitalized scheme began on September 28, 2023, and is set to run until October 27, 2023, affording prospective applicants a generous window to explore this opportunity.
Strategic Location Advantages
These group housing plots, nestled in sector 22D, are strategically situated in close proximity to a plethora of key developments. This prime location provides easy access to the Eastern Peripheral Expressway, the proposed film city, the eagerly anticipated Noida International Airport, Buddh International Circuit, and Medical Park. These advantages make it an appealing prospect for developers and investors alike.
Diverse Plot Options
Under this scheme, YEIDA is offering six group housing plots, each falling within distinct size categories. These plots range in size from 20,000 square meters to 40,000 square meters, catering to a broad spectrum of project requirements.
Varied Pricing Structure
The pricing structure for these plots is not uniform. The reserved prices vary depending on the plot’s size and location, encompassing a range from Rs 61.5 crore to Rs 135.3 crore, affording flexibility for different project budgets.
Competitive Bidding Rates
Bidding rates for these plots are also variable, with rates ranging from Rs 30,750 per square meter to Rs 33,825 per square meter. This competitive range encourages participation from a diverse pool of potential bidders.
Registration Fee Framework
Prospective plot acquirers should note that a registration fee is stipulated. The fee is set at 10 percent of the total plot cost, which corresponds to amounts ranging from Rs 6.15 crore to Rs 13.53 crore, contingent on the specific plot category.
The application period remains open until October 27, 2023, allowing interested parties ample time to submit their applications. The allocation of these group housing plots is scheduled to take place through an e-auction on November 21, 2023, fostering transparency and equal opportunity.
Flexible Payment Structure
In a forward-thinking move, YEIDA has devised a payment structure that eases the financial burden on applicants. During the application process, applicants are required to provide 10 percent of the plot’s cost as earnest money. Successful bidders will then be obligated to furnish an additional 20 percent of the total plot cost upon allotment. The remaining 70 percent will be disbursed over three years in six equal installments, making it more accessible for investors and developers to participate in this scheme.
This housing plot scheme presents a compelling opportunity for a wide array of stakeholders. It offers access to strategically positioned group housing plots with a payment structure designed to accommodate various financial capacities and project goals. Developers, investors, and real estate enthusiasts are invited to explore this promising venture.