Authority had also introduced a group housing scheme in September 2023. But, the bidders did not show interest in it. This housing scheme is located close to Noida International Airport. Applications for this scheme can be made till 20th May
Yamuna Expressway Industrial Authority (YEIDA) has again introduced its group housing scheme. Under this, six plots are being sold in Sector 22D. These plots are close to Noida International Airport on Yamuna Expressway. Earlier, YEIDA’s scheme had not received response from bidders. According to officials, the authority is expected to get at least Rs 450 crore from the sale of these six group housing plots. Earlier, the authority had allotted group housing plots in 2014. After this, it launched a group housing scheme in September 2023. But, no bidder had shown interest in this scheme.
A YEIDA official, on condition of anonymity, told Moneycontrol, “The last date for registration and deposit of fees is May 20. This time, a good response is expected from bidders for these six group housing plots.” Moneycontrol is telling you 5 important things about this project.
Plot size
The authority has offered six group housing plots of different sizes for sale. These are for different categories. Of these, five plots are each 20,000 square meters in size. The remaining one plot is of 40,000 square meters.
Location
These plots are in Sector 22D of the authority, which is located on Yamuna Expressway. This expressway connects Mathura and Agra to Greater Noida. These plots are close to the proposed Film City, Noida International Airport, Buddha International Circuit and Medical Device Park. Sector 22D is also directly connected to the Eastern Peripheral Expressway, which connects western UP with Delhi and Haryana.
Cost and Registration Fees
The reserve price of the plot is fixed between Rs 61.5 to Rs 135.3 crore depending on the location and size. The reserve rate for bidding is between Rs 30,750 to Rs 33,825 per square metre. The registration fee or earnest money (EMD) is 10 percent of the cost of the plot. This means that the registration amount will be between Rs 6.15 to Rs 13.53 crore.
Allotment
Bidders must deposit their applications and EMD amount by May 20, 2021. Documents required for bidding can be submitted till May 21. The allotment of these group housing plots will be done through e-auction. This auction will take place on June 10, 2024.
Payment plan
For ease of payment, the authority has given the facility to developers to pay in installments instead of paying the full price of the plot within 90 days. According to the bid document, the applicant will have to pay 10 percent earnest money at the time of application. Successful bidders will have to pay 40% payment after adjusting the EMD amount within 60 days of the allotment letter. The remaining 60 percent money will have to be paid in five years. During this period, payment of each installment will be on half yearly basis.
