YEIDA’s Mega Auction: ₹250 Crore Raised from Noida Terminal Housing Plots

The Yamuna Expressway Industrial Development Authority (YEIDA) has raised ₹250 crore by selling two group housing plots near Noida Terminal in Jewar. The announcement was made by YEIDA officials on Monday.

E-Auction Success

The plots were sold through an e-auction system whereby the highest bid on the previous reserve price was won, as confirmed by the YEIDA officials.

“In June, we launched a scheme offering two plots for group housing to developers interested in building residential projects along the Yamuna Expressway near the Noida Terminal project. Two developers participated in the e-bidding process for each plot, and the highest bidder secured the plot as per the rules,” said Arun Vir Singh, CEO of YEIDA.

Details of the Plots

YEIDA gave one plot measuring 40,000 square meters in the 22 D sector and the other measuring 20,000 square meters also in the same sector.

“The present highest bid was ₹149.57 crores by Purvanchal Projects Private Limited for the 40,000 square meter plot that they got, and ACE Infracity Developers Private Limited giving the present second highest bid of ₹142.45 crores,” said Singh.

“The 20,000 square meter plot was clinched by Eldeco Infrastructure & Properties Limited at ₹96. 86 crore and Arihant Buildcon Private Limited secured the second place at ₹71.22 crores,” Singh further said.

New Group Housing Plots Scheme

The plots were sold under the Yamuna Expressway Authority’s Group Housing Plots Scheme YEA-GH-07/2024 and the e-auction of the same finished on July 12.

YEIDA is also providing more new group housing plots under a new scheme. Next month, nine plots of land, each measuring 25 acres in Sector 22D, will be available through e-bidding, said the officials.

Meeting Market Demand

Since the beginning of the last decade, YEIDA has conveyed housing plots near Noida International Airport to 13 developers to make townships in the Yamuna Expressway. YEIDA has taken a break and is coming back with schemes to match the rising demand for apartments in the vicinity of the Noida Terminal.

“This month, we are launching nine group housing plots because we envisage high demand for apartments in the area around the upcoming airport, visible to be operational before the end of 2024. Several companies are already starting near the airport – like Vivo, which has begun manufacturing mobiles there. Many other companies also are starting. Within one year, about 300 manufacturing facilities are planned to functional here, besides boosting upmarket and urbanization here,” Singh said.