Noida: Yamuna Expressway Industrial Development Authority (YEIDA) on Friday launched separate schemes for group housing and hotel plots near Noida International Airport, offering 10 plots in each category.Since the airport became operational in June, there has been a surge in demand for residential and hotel plots in the area.The group housing plots are located in Sectors 17, 18, 20 and 22D, with sizes ranging from 11,513 sqm to 50,600 sqm. Sector 17 has four plots and sectors 18 and 20 have one plot each.Sector 22D has four plots, with the largest plot measuring 50,600 sqm. The allotment rate is Rs 52,500 per sqm and the largest plot will have a reserve price of Rs 265 crore.Bidders are required to pay a processing fee of Rs 5 lakh for each plot and an earnest money deposit of 10%. The registration process began on Friday and the deadline for submission of applications is on Oct 26 at 5pm.Following evaluation of the applications, the names of financially and technically qualified bidders will be displayed on Nov 16. The final allotments will be decided through an e-auction scheduled to begin at 11am on Nov 18.For the hotel plot scheme, YEIDA is offering six plots in Sector 29 and four in Sector 28. All plot sizes are in the range of 3,100 sqm to 10,000 sqm.Bidders have to pay Rs 87,010 per sqm to reserve a plot, which puts the reserve price of the 10,000 sqm one at Rs 91 crore. The last date for submitting applications under this scheme is Oct 24. The names of qualified bidders will be displayed on Nov 2, and the e-auction will be conducted on Nov 4 at 11am.The allottee will have to deposit 10% as earnest money. The allotment money, equivalent to 40% of the total premium of the plot after adjusting the earnest money deposited earlier, will have to be deposited within 60 days from the date of issue of allotment.The remaining 60% of the total premium will have to be paid over two years in four half-yearly instalments.Under the scheme, a 5% additional charge will be levied for a corner plot, 5% for a plot facing a green belt and 5% for a roadside plot facing a road measuring 45 metres or more. The allotment of the plots will be made on a leasehold basis for a period of 90 years from the date of execution of the lease deed.According to the building regulations, there is no limit on the height of a hotel building. However, as Sectors 28 and 29 are adjacent to Noida International Airport, the permissible building height is approximately 29 metres.RK Singh, CEO of YEIDA, said that the demand for group housing societies has increased recently due to Noida airport. “Due to land scarcity, it is ideal to develop vertical projects like a group housing society. Also, next month, Eastern Peripheral Expressway and Yamuna Expressway interchange will be ready. This will allow seamless connectivity of nearby areas like Gurugram, Palwal, Ghaziabad, Hapur with Greater Noida and Jewar,” he said.
