The Yamuna Expressway Industrial Development Authority (YEIDA) has floated a scheme for group housing plots near the upcoming Noida International Airport at Jewar in Gautam Buddha Nagar district, Uttar Pradesh (UP).
Under the scheme, which was launched on August 1 and will close on August 30, 19 new group housing plots, measuring a combined area of 430,000 square metres (sq m), are up for sale.
The size of the plots ranges between 2.5 and 12 acres and is spread across three sectors sectors along the Yamuna Expressway. YEIDA aims to raise Rs 1,407 crore from allotment of these plots through the ongoing scheme.
Recently, YEIDA sold two group housing plots to realty firms, Eldeco and Purvanchal Projects, near the under-construction airport, which is likely to be operational by the end of this year.
Here are five things you need to know about YEIDA’s group housing scheme:
Location
The group housing plots are located in Sectors 17, 18 and 22D along the Yamuna Expressway that connects Greater Noida with heritage towns of Agra and Mathura in western UP. Five of the plots are located in Sector 17, six and eight in Sectors 18 and 22D, respectively.
Plot Sizes
The plot sizes range between 2.5 and 12 acres. The smallest at 2.5 acres, or 11,513.72 sq m, is located in Sector 17 and the largest at 12 acres, or 48,585 sq m, is located in Sector 22D.
Prices
The reserve prices of these group housing plots have been fixed between Rs 32,375 per sq m and Rs 35,612 per sq m depending on their location and area.
Five plots are available in Sector 17 in four sizes such as 11,513 sq m (two plots), 12,141 sq m (one plot), 20,235 sq m (one plot) and 24,282 sq m (one plot). The reserve prices for these plots range from Rs 37 crore to Rs 78 crore.
In Sector 18, five plots each of 16,188 sq m with a reserve price of Rs 55 crore will be put up for auction, while a plot of the same size will be up for sale at a reserve price of Rs 58 crore.
Similarly, the eight plots located in Sector 22D are available in four sizes – 20,235 sq m (four plots), 47,754 sq m (two plots), 45,731 sq m (one plot), and 48,564 sq m (one plot). The reserve prices of these plots range between Rs 65.51 crore and Rs 173 crore.
Allotment
All these plots will be allotted through an e-auction, which will be conducted on September 30. The scheme has provisions to build at least 25,000 apartments in both affordable and luxury housing segments.
Payment plan
The applicants will have to deposit 10 per cent of the reserved cost of a plot as earnest money deposit (EMD) amount. Successful bidders will have to pay 40 per cent of the total cost after adjusting the EMD amount within 60 days of receiving their plot allotment letter. The remaining 60 per cent will have to be paid over five years in 10 half-yearly instalments.
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