The Yamuna Expressway Industrial Development Authority (Yeida) has raised ₹250 crore revenue by selling two group housing plots in the vicinity of Noida greenfield international airport in Jewar, announced officials associated with the development on Monday.
These plots have been allotted through e-auction, Yeida officials said, adding that in such an auction, the plot is sold to the one who places the highest bid against the reserve price.
“We floated a scheme in June this year offering two plots for group housing to realtors interested in building housing projects along the Yamuna Expressway, near the greenfield airport project. Two realtors participated in the e-bidding process for each group housing plot. And the realtor who placed the highest bid got the plots in accordance with rules,” said Arun Vir Singh, chief executive officer, Yeida.
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Yeida offered a 40,000 square metre plot for group housing in Sector 22D and another plot measuring 20,000 square metre in the same sector, said officials.
“Purvanchal Projects Private Limited placed the highest bid of ₹149.57 crore for the plot measuring 40,000 square metres and secured the rights to the plot. ACE Infracity Developers Private Limited placed the second highest bid of ₹142.45 crore,” said Singh.
“Eldeco Infrastructure & Properties Limited placed the highest bid of ₹96.86 crore for plot measuring 20,000 square metres while Arihant Buildcon Private Limited came second with a bid of ₹71.22 crore,” said Singh.
The authority invited bids under the Yamuna Expressway Industrial Development Authority’s Group Housing Plots Scheme YEA-GH-07/2024 and completed the e-auction proceedings on July 12.
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Yeida is also offering more group housing plots under the new scheme. There are nine plots, each having 25 acres, up for grabs in Sector 22D and these plots will be allotted through e-bidding next month, said officials.
In the past 10 years, Yeida has allotted housing plots to 13 realtors who are developing townships along Yamuna Expressway. After a hiatus, Yeida is again coming up with schemes for allotting group housing plots to cater to the demand for apartments near Noida airport.
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“In a new scheme this month, we are offering nine group housing plots because we feel there is a demand in the market for apartments near the airport, which is set to become operational by 2024 end. Also, several companies have started setting up their units near the airport. Vivo has also started making mobiles at their factory near the airport and other companies are in the process of starting operations. Within a year, at least 300 manufacturing units will become functional near the airport, thereby fuelling growth in the market and boosting urbanisation,” said Singh.
