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The Yamuna Expressway Industrial Development Authority (YEIDA) recently concluded a successful e-auction of eight institutional plots, generating significant investment and job creation opportunities for 600 individuals in the region.
The auction, held on March 14, 2024, attracted bids exceeding the initial price for all eight plots. This resulted in a total revenue of INR 37.12 crore for YEIDA, exceeding the initial bid value by INR 5.65 crore. This success is attributed to the transparent e-auction process conducted under the guidance of CEO Arunveer Singh.
The eight plots were designated for various institutional purposes, including six nursing homes, one corporate office, and one senior secondary school. Here's a breakdown of the successful bidders and their potential impact - Bids of 14 applications for six nursing home plots were received, with a combined investment of INR 52.03 crore expected. This development is projected to create job opportunities for around 450 healthcare professionals and staff.
M/s Flux Capital Pvt. Ltd. successfully secured the corporate office plot, with a final bid exceeding the initial price by nearly double. This translates to an anticipated investment of INR 14.69 crore, potentially creating 120 new jobs in the area. The largest plot, designated for a senior secondary school with an area exceeding 2.5 acres, was won by M/s Subhash Infraengineers Pvt. Ltd. The final bid suggests an investment of INR 19.13 crore, with the potential to create job opportunities for about 30 people.
Overall, the successful e-auction is expected to generate a combined investment of approximately INR 86 crore across these projects. This investment is poised to create employment opportunities for around 600 individuals, contributing significantly to the growth of the region.
This e-auction further strengthens YEIDA's position as a key investment destination in India. With major projects like Jewar Airport and Film City already underway, YEIDA is attracting significant interest from various industries. The success of this e-auction demonstrates the growing demand for institutional and commercial spaces in the area.
The transparent and efficient e-auction process implemented by YEIDA paves the way for further development and investment opportunities. This not only benefits the authority but also creates a vibrant and dynamic business environment for companies and institutions seeking to establish themselves in the region.
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