Reviving Opportunities: Yamuna Expressway Authority's Group Housing Scheme - All You Need to Know

The Yamuna Expressway Industrial Development Authority (YEIDA) has taken a proactive step by reintroducing its group housing scheme, offering six lucrative plots in sector 22D along the bustling Yamuna Expressway, adjacent to the promising Noida International Airport. With ambitious revenue targets of Rs 450 crore, YEIDA is strategically aiming to allure potential buyers through this revitalized scheme, which is slated to conclude on May 20, 2024, with the eagerly awaited e-auction scheduled for June 10, 2024.

All You Need to Know:

Number of Plots and Sizes:

A total of six group housing plots are now available for acquisition, comprising five plots, each generously spread across 20,000 sqm, and one substantial plot, spanning an impressive 40,000 sqm.

Location:

Strategically nestled in YEIDA Sector 22D, these prime plots boast unparalleled proximity to significant landmarks such as the proposed film city, Noida International Airport, Buddha International Circuit, and the highly anticipated Medical Device Park. Moreover, Sector 22D enjoys seamless connectivity to the Eastern Peripheral Expressway, seamlessly linking western Uttar Pradesh with the bustling metropolises of Delhi and Haryana.

Price and Registration Fee:

The pricing spectrum for these plots ranges from Rs 61.5 crore to Rs 135.3 crore, meticulously tailored to reflect both size and location advantages. Bidding rates hover between Rs 30,750 per sqm and Rs 33,825 per sqm, ensuring a fair and competitive pricing framework. Interested parties are required to furnish a registration fee or earnest money deposit (EMD), constituting 10% of the plot cost, with amounts varying from Rs 6.15 crore to Rs 13.53 crore, depending on the chosen plot.

Allotment Process:

Keen bidders are urged to swiftly submit their applications and EMD by May 20, 2021, while the submission of requisite documents for the bidding process will be accepted until May 21, 2024. Plot allotment will be conducted through a transparent and meticulously planned e-auction, meticulously scheduled for June 10, 2024.

Payment Plan:

YEIDA has thoughtfully devised a flexible payment plan, designed to alleviate financial constraints for developers. Successful bidders are required to furnish 40% of the total plot cost within 60 days of allotment, seamlessly adjusting the EMD amount. The remaining 60% can be conveniently paid over a span of five years, divided into ten half-yearly installments, offering ample breathing space and financial flexibility.

With these comprehensive insights at their disposal, developers and investors can confidently navigate the revived group housing scheme, strategically leveraging its prime location and flexible payment options to seize lucrative opportunities within the burgeoning real estate landscape near Noida Airport.