Yeida re-introduces group housing plots scheme

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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Harini Balasubramanian

Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.