April 19, 2024: The Yamuna Expressway Industrial Development Authority (Yeida) has reintroduced its group housing scheme, offering six plots for sale in Sector 22D along the Yamuna Expressway near Noida International Airport, according to media reports. As per officials, Yeida is targeting a revenue of at least Rs 450 crore from the allotment of these group housing plots.
The YEIDA has come up with a group housing scheme after around a decade. In 2014, the authority it allotted plots to group housing societies. However, after nine years, in September 2023, it had launched a group housing scheme, but no bidders had tuned up.
The last date for registration and fee submission is May 20, 2024, YEIDA official said as cited in a Moneycontrol report.
Yeida group housing scheme details
Scheme | Yeida group housing plots scheme |
Location | Sector 22D, Yamuna Expressway near Noida International Airport |
Number of plots | 6 |
Reserved price | Rs 61.5 crore to Rs 135.3 crore |
Reserved rate of bidding ranges | Rs 30,750 per sqm and Rs 33,825 per sqm |
Registration fee or earnest money deposit (EMD) amount | 10% of the plot cost
Registration amount ranges from Rs 6.15 crore and Rs 13.53 crore, based on different categories and plot sizes |
Last date for submission of applications and EMD amount | May 20, 2024 |
Last date for submission of documents for the bidding process | May 21, 2024 |
Date for e-auction | June 10, 2024 |
Number of plots and sizes
Under the group housing scheme, Yeida has put on sale six plots across various categories, with five plots of 20,000 square metre (sqm) each and one plot of 40,000 sqm.
Location
These group housing plots are located along the Yamuna Expressway in YEIDA Sector 22D. The expressway connects the cities of Mathura and Agra with Greater Noida. The plots are in proximity to the upcoming Noida International Airport near Jewar, Buddha International Circuit and Medical Device Park and the proposed film city. Sector 22D has direct connectivity with the Eastern Peripheral Expressway that links western Uttar Pradesh with Delhi and Haryana.
Price and registration fee
The reserved price of the group housing plots ranges between Rs 61.5 crore and Rs 135.3 crore, depending on the size and location. The reserved rate of bidding ranges between Rs 30,750 per sqm and Rs 33,825 per sqm. The registration fee or earnest money deposit (EMD) amount has been fixed at 10% of the cost of the plot. Given the different categories and plot sizes, the registration amount has been fixed between Rs 6.15 crore and Rs 13.53 crore.
Allotment of plots
Bidders can submit their applications and EMD amount by May 20, 2024. However, the required documents for the bidding process can be submitted by May 21, 2024. The group housing plots will be allotted through e-auction on June 10, 2024.
Payment plan
To simplify the payment of land costs for developers, the authority has allowed payment in parts instead of paying the property cost upfront in 90 days. As per the bid document, the applicants must deposit 10% earnest money at the time of application. Successful bidders will have to pay 40% of the total cost after adjusting the EMD amount within 60 days of the plot allotment letter. The remaining 60% will have to be paid over five years in 10 half-yearly instalments.
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