Anticipating rising demand for housing and hospitality following the operationalisation of the Noida International Airport, the Yamuna Expressway Industrial Development Authority (YEIDA) has launched separate plot schemes for group housing and hotels, officials told the Hindustan Times newspaper.
The authority is offering 10 plots under each category to drive urban development around the airport.
“The airport became operational in June, and there is increasing demand for residential and hotel plots in the area. To cater to the demand, we have launched this scheme for businessmen,” the newspaper quoted Shailendra Bhatia, additional chief executive officer of the Yeida.
Where are the group housing plots located?
The group housing plots are located in sectors 17, 18, 20, and 22D, with sizes ranging from 11,513 sqm to 50,600 sqm, officials said.
Four plots in Sector 17
There are four plots in Sector 17 — a 12,141 sqm plot, a 20,335 sqm plot, and two plots measuring 11,513 sqm each.
One plot in Sector 18 and 20
Sector 18 has one plot measuring 20,720 sqm.
Sector 20 also has one plot measuring 25,000 sqm, according to officials.
Four plots in Sector 22 D
Sector 22D has four plots — one measuring 27,925 sqm, two measuring 45,700 sqm each and the largest plot measuring 50,600 sqm. The allotment rate for housing plots is ₹52,500 per sqm, and the largest plot will have a reserve price of ₹265 crore, as per officials.
Registration process
Bidders will be required to pay a processing fee of ₹5 lakh per plot and an earnest money deposit of 10%. The registration process began on September 25, while the application submission deadline is October 26 at 5pm, officials said.
Following the evaluation of the applications, the names of qualifying bidders will be displayed on November 16. The final allotments will be decided through an e-auction scheduled to begin at 11am on November 18.
Scheme for hotels
Yeida also launched a separate scheme offering 10 plots for hotels near the airport, with sizes ranging between 3,100 sqm and 10,000 sqm. Six of these plots are located in Sector 29 and four in Sector 28, officials said.
Reserve price for these plots has been fixed at ₹87,010 per sqm, which puts the reserve price of a 10,000-sqm plot at ₹91 crore. The last date for submitting applications under this scheme is October 24. The names of qualified bidders will be displayed on November 2, and the e-auction will be conducted on November 4 at 11am.
The allottees 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 installments.
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 90-year leasehold basis from the date of execution of the lease deed, as per the scheme.
No height limit on hotel buildings
According to the building regulations, there is no height limit on a hotel building. However, as sectors 28 and 29 are adjacent to Noida International Airport, the permissible building height is approximately 29 metres, Yeida officials told the Hindustan Times newspaper.
