The Yamuna Expressway Industrial Development Authority (Yeida) has launched new group housing and commercial plot schemes along the expressway. The authority aims to generate revenue of Rs 500 crore from the two schemes, which have been launched after a gap of nine years. The last Yeida sector group housing scheme was launched in 2014.
Residential plot scheme
In the group housing scheme, three plots have been put up for auction and interested parties can submit applications from May 5, 2023.
The scheme will close on June 2, 2023, and the e-auction will be conducted on June 23, 2023. Two plots of 45,000 square metre (sqm) and one of 60,000 sqm at Sector 22D will be auctioned under the scheme. The pre-bid meeting will take place on May 18, 2023, according to a report by Moneycontrol.
According to YEIDA officials, the reserved rate of bidding is Rs 33,825 per square foot (psf) for a plot of 60,000 sqm while it is Rs 30,750 psf for a 45,000 sqm plot. The authority expects to garner around Rs 479 crore through the auction of the plots.
These plots are in proximity to Eastern Peripheral Expressway, upcoming Noida International Airport, and the proposed Film City.
Commercial plot scheme
Under the Yeida commercial plot allotment scheme, seven commercial plots have been put for auction at Sector 22 A. The scheme offers two commercial plots of an area 112 sqm, four plots of 124 sqm and one plot of 140 sqm. The reserve price for the 112 sqm plot is Rs 2.87 crore, while the reserve price for plots of 124 sqm area is Rs 3.18 crore. The reserve price of the 140 sqm plot has been fixed at Rs 3.59 crore. The revenue potential from the auction of these plots is estimated to be at least Rs 22.11 crore.
Interested parties can start applying from May 5, 2023. The last date to submit applications is June 5, 2023. Yeida will conduct the e-auction of these commercial plots on June 20, 2023.
How to apply?
Interested applicants must meet the eligibility criteria of the Yeida plot scheme. The application forms are available on the official website www.yamunaexpresswayauthority.com. Applicants can download the forms and submit bids online.
The authority plans to accept payment in parts instead of paying the property cost up front in 90 days to benefit the buyers. The applicants are required to pay 10% earnest money at the time of application. Successful bidders must pay another 30% of the total cost at the time of plot allotment. The remaining 60% would have to be paid over three years in six instalments, officials said.
See also: YEIDA Plot Scheme 2022-2023: Application, allotment procedure, lottery draw date
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