YEIDA Launches Housing and Hotel Plots Near Noida Airport

The Yamuna Expressway Industrial Development Authority (YEIDA) has launched separate plot schemes for group housing and hotels.

The schemes come as demand rises following the operationalisation of the Noida International Airport.

The authority is offering 10 plots under each category. The aim is to drive urban development around the airport.

Shailendra Bhatia is additional chief executive officer of YEIDA. He said the airport became operational in June.

He noted there is increasing demand for residential and hotel plots in the area. He said the scheme was launched to cater to that demand from businessmen.

Group Housing Plots

The group housing plots are located in Sectors 17, 18, 20, and 22D. Sizes range from 11,513 sqm to 50,600 sqm.

• Sector 17: four plots of 12,141 sqm, 20,335 sqm, and two of 11,513 sqm each
• Sector 18: one plot of 20,720 sqm
• Sector 20: one plot of 25,000 sqm
• Sector 22D: four plots of 27,925 sqm, two of 45,700 sqm each, and one of 50,600 sqm

The allotment rate for housing plots is Rs 52,500 per sqm. The largest plot will have a reserve price of Rs 265 crore.

Registration and E-Auction Dates for Housing Plots

Bidders must pay a processing fee of Rs 5 lakh per plot. They must also pay an earnest money deposit of 10 percent. Registration began on September 25.

The application deadline is October 26 at 5pm. Names of qualifying bidders will be displayed on November 16. The e-auction will begin at 11am on November 18.

Hotel Plots Scheme

YEIDA has also launched a scheme offering 10 plots for hotels near the airport. Sizes range between 3,100 sqm and 10,000 sqm.

Six plots are in Sector 29 and four are in Sector 28. The reserve price is Rs 87,010 per sqm. This puts the reserve price of a 10,000 sqm plot at Rs 91 crore.

The last date to submit applications is October 24. Qualified bidders will be displayed on November 2. The e-auction will take place on November 4 at 11am.

Also Read: YEIDA Allots 973 Residential Plots Near Noida International Airport

Payment Terms and Charges

Allottees must deposit 10 percent as earnest money. The allotment money equals 40 percent of the total premium, after adjusting the earnest money.

It must be paid within 60 days of the allotment being issued. The remaining 60 percent is payable over two years in four half-yearly instalments.

A 5 percent additional charge applies for a corner plot. Another 5 percent applies for a plot facing a green belt.

A further 5 percent applies for a plot facing a road measuring 45 metres or more. Plots will be allotted on a 90-year leasehold basis.

Also Read: Japan Backs ₹3,191 Crore Investment in UP's YEIDA Region

Building Height Rules

Building regulations set no height limit on hotel buildings. However, Sectors 28 and 29 are adjacent to the airport. The permissible building height there is approximately 29 metres.

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