Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Yamuna Expressway Industrial Development Authority (YEIDA) has geared up to allocate land designated for hotel construction near the upcoming Noida International Airport in Jewar. Scheduled for December 22, an e-auction will determine the allotment of three commercial plots intended for this purpose.
This decision comes alongside an extension of the scheme's application deadline from December 8 to December 14. Positioned in Sector 28, adjacent to the Yamuna Expressway and in close proximity to the Jewar airport, these land parcels hold strategic significance.
These plots offer convenient access to the eastern-western freight corridors, the proposed International Film City in Sector 21, and the envisioned medical devices park in the area. YEIDA officials anticipate generating a minimum revenue of Rs 108 crore from the e-auction of these commercial plots.
The scheme has already garnered a positive response, with significant interest from major entities like the ITC Group aiming to establish hotels near the upcoming airport. Several potential bidders requested an extension to apply for the scheme, leading to extending the deadline until December 14.
The scheme was launched on November 1, offering only three commercial plots for auction. These land parcels come in three varying sizes - 3,400 square meters, 5,000 square meters, and 10,000 square meters.
These plots will be assigned at a rate of Rs 59,100 per square meter, with additional charges applicable for preferred locations. The reserve prices of these plots range between Rs 20.10 crore and Rs 62.06 crore. Depending on the plot's size, the earnest money deposit (EMD) value stands between Rs 2 crore and Rs 6.3 crore. Applicants must also submit a non-refundable processing fee ranging from Rs 2.01 lakh to Rs 6.30 lakh, excluding an 18% Goods and Services Tax (GST).
YEIDA officials confirmed that successful bidders would secure these plots on a 90-year lease. The allotted parties will be permitted to construct multi-storey buildings on the plots, with no specific height restrictions. However, constructions exceeding 24 meters in height for hotel structures will necessitate clearance from the Airports Authority of India, officials specified.
In a bid to stimulate development near the upcoming Noida International Airport, YEIDA's initiative to auction land for hotel construction signifies a growing interest from prominent entities, promising a significant economic boost in the region. This move by YEIDA demonstrates a proactive step towards enhancing infrastructural developments in line with the imminent establishment of the Noida International Airport.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy