“YEIDA Offers Opportunity for Hotel Development near Noida Airport: Here’s What You Need to Know”
As construction progresses on the Noida International Airport, the Yamuna Expressway Industrial Development Authority (YEIDA) is expediting plans for commercial and industrial projects around the upcoming facility.
In its latest initiative, YEIDA is inviting developers to acquire land for building hotels near the second airport in the National Capital Region. The scheme involves the sale of three plots through e-auction, with bidding closing on May 21.
A similar scheme in November 2023 received limited interest and was subsequently withdrawn.
YEIDA officials express optimism about the current offer, calling it a prime opportunity for developers and hospitality firms to invest in establishing high-quality hotels near the Jewar airport.
Key Details of the Scheme:
Number and Sizes of Plots:
- Three commercial plots, designated specifically for hotels, are available for purchase.
- These plots come in three sizes: 3,400 sq m, 5,000 sq m, and 10,000 sq m.
Location:
- Situated in YEIDA’s Sector 28, adjacent to the Yamuna Expressway and in proximity to the Noida International Airport at Jewar.
- Offers convenient access to the east-west freight corridor, proposed International Film City in Sector 21, and planned medical devices park.
Prices and Allotment Rate:
- Plots are priced between Rs 20.10 crore and Rs 62.06 crore as per reserve rates.
- Earnest money deposit (EMD) ranges from Rs 2.01 crore to Rs 6.3 crore, depending on plot size.
- Allotment rate set at Rs 59,100 per sq m, with additional charges for preferred location.
- Non-refundable processing fee of Rs 2.01 lakh to Rs 6.30 lakh (excluding GST) applies.
E-Auction:
- Plots will be allocated through an e-auction scheduled for June 14, after the conclusion of Lok Sabha elections.
- Successful bidders will secure a lease for 90 years.
Payment Plan:
- 40% of the total plot cost, after adjusting EMD, must be paid within 60 days of allotment.
- Remaining 60% to be settled in 10 half-yearly installments over five years, with 10% interest per annum.
Allottees are permitted to construct multi-storey buildings, subject to clearance for structures exceeding 24 meters in height from the Airports Authority of India.