In a bid to revive interest after a lackluster response in previous tenders, the Yamuna Expressway Industrial Development Authority (YEIDA) has relaunched its group housing scheme, offering six plots in sector 22D along the Yamuna Expressway near Noida International Airport.
Revenue Expectations
YEIDA officials anticipate generating a minimum of Rs 450 crore from the sale of these group housing plots.
Previous Attempt
The last time YEIDA allocated group housing plots was in 2014. Despite launching a scheme in September 2023, no bidders participated.
Key Details of the Scheme
- Number and Sizes of Plots
- Six plots are available in various categories.
- Five plots measure 20,000 sqm each, while one is 40,000 sqm.
- Location Advantages
- Situated in YEIDA Sector 22D, these plots offer proximity to the proposed film city, Noida International Airport, Buddha International Circuit, and Medical Device Park.
- Direct connectivity with the Eastern Peripheral Expressway enhances accessibility to Delhi, Haryana, and western Uttar Pradesh.
- Price and Registration Fee
- Plot prices range from Rs 61.5 crore to Rs 135.3 crore, based on size and location.
- Bidding rates vary from Rs 30,750 per sqm to Rs 33,825 per sqm.
- Registration fee or earnest money deposit (EMD) is set at 10 percent of the plot’s cost, ranging from Rs 6.15 crore to Rs 13.53 crore.
- Application and Allotment Process
- Bidders can submit applications and EMD until May 20, 2021, with required documents due by May 21, 2024.
- An e-auction for allotment will take place on June 10, 2024.
- Payment Plan
- YEIDA offers a flexible payment plan, allowing developers to pay the land cost in instalments.
- Successful bidders must pay 40 percent of the total cost within 60 days of allotment, with the remaining 60 percent paid over five years in 10 half-yearly instalments.