Popularly known as the Yamuna Expressway Authority, the Yamuna Expressway Industrial Development Authority (YEIDA) has been diligently working towards establishing the sectors adjoining the expressway. Recognising the strategic importance of the Expressway, the authority has periodically announced several residential, commercial, industrial, and institutional plot schemes.
One of the newly launched scheme is the YEIDA plot scheme. Under this scheme, individuals can apply for plot acquisition until January 1, 2024. YEIDA’s new commercial plot e-auction process is scheduled to conclude by February 29, 2024.
YEIDA Plot Scheme 2024
On January 1, 2024, YEIDA announced two new plot schemes offering data center and mixed-use lands along the Yamuna Expressway. The YEIDA plot scheme 2023 was planned in response to the region’s demand, courtesy of the under-construction Jewar Airport.
Making use of the popularity and estimated growth associated with this airport, the Yamuna Expressway Authority is also planning new schemes for individual residential plots, industries, petrol pumps, milk booths, and vending zones.
Commercial plots are primarily planned in sectors 14 and 15, forming a small part of every sector. Details of various plots for size, location, and status can be checked through the GIS portal, along with allotment rates for commercial plots.
What is the general allotment process for commercial plots?
| S.No | Type of Allotment | Mode of Allotment | Process of Allotment |
| 1 | Commercial (Kiosks) | E-Auction | The applicant who quotes the highest price for the shop they apply for is eligible for allotment. |
| 2 | Commercial (Shopping Complex) | E-Auction | The applicant who quotes the highest price for the shop they apply for is eligible for allotment. |
| 3 | Commercial (Petrol Pump, Hotel, Mall) | Two Bid System | The allotment process involves a technical bid and a financial bid. Initially, all applicants are subject to a technical bid evaluation. Only those who qualify in the technical bid are eligible for the financial bid opening. The financial bids of the technically eligible bidders (minimum of 3) are then opened, and the bidder quoting the highest price is eligible for plot allotment. |
YEIDA Initiates E-Auction for Commercial Plots
The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced an exciting opportunity for institutional development with the initiation of an e-auction for plots in Greater Noida.
These strategically allocated plots, situated in proximity to Jewar Airport, offer a prime location for the establishment of nursing homes, hospitals, maternity centers, corporate offices, and senior secondary schools in sectors 18, 20, and 22E of Greater Noida.
The commercial footprint plots are available in the vibrant sector 22A of YEIDA City, with multiple plots of varying sizes on offer. These plots mark the beginning of important developments planned for the city like the proposed Film City and the dedicated MSME Apparel Handicraft Park, offering businesses a chance to capitalise on the synergies that such proximity entails.
Apart from this YEIDA has also introduced commercial shops with an objective to cater to a wide array of business needs.
Also Read: Various Plot Scheme in Uttar Pradesh
Important Details of the E-Auction
- Interested parties can submit applications for plot acquisition until 1 January 2024
- The e-auction process is slated for completion by 29 February 2024. These plots, strategically located near Jewar Airport, will be allotted on a leasehold basis for a duration of 90 years under the scheme.
- A total of 11 plots, ranging from 1000 square meters to 10900 square meters, will be open for bidding through e-auction under the plot allotment scheme.
- The reserved prices for these plots range from Rs 4.75 crore to Rs 25.95 crore, with ICICI Bank serving as the banking partner for the e-auction process.
How to Participate in the E-Auction?
In order to participate in the E-auction process, one must follow the steps given below:
- Obtain the scheme brochure from the official YEIDA website at www.yamunaexpresswayauthority.com.
- Prepare all necessary documentation as specified in the brochure.
- Visit the Nivesh Mitra portal at www.niveshmitra.up.nic.in.
- Complete the online application form with accurate details.
- Upload the required documents as per the guidelines.
- Pay the non-refundable processing fee of Rs 25,000 plus GST through the online portal or via RTGS/NEFT.
Things You Need to Know about YEIDA’s New Commercial Plot E-Auction
- Institutions intending to establish their units on the allocated land through the plot allotment scheme must adhere to various standards and undertake the development of essential civic amenities within their units.
- Hospitals, nursing homes, corporate office spaces, and senior secondary schools must develop facilities according to specified guidelines, ensuring a comprehensive approach to infrastructure development.
- These plots are not only strategically located near Jewar Airport but also in close proximity to significant landmarks such as the International Film City (Noida), F-1 MotoGP Track, Medical Device Park, Electronic Manufacturing Cluster, and Toy Park.
- They will be adjacent to the Yamuna Expressway, ensuring seamless connectivity, and their connectivity with the proposed Eastern Peripheral Expressway is guaranteed.
Conclusion:
YEIDA’s decision to open an e-auction for these commercial plots is a major step taken towards the development in Greater Noida in a fair and smooth manner. The prime location, coupled with the developmental potential of these plots, is expected to attract substantial interest from investors and institutions keen on capitalising on the locational advantages offered by these plots.
Whether you are an SME looking to expand or a corporation seeking a great deal, these commercial plots offer the foundation for future success. If you have any queries, connect with OneNDF to learn more details about the available lenders for funding these projects.
Frequently Asked Questions
Q.1 Who is eligible for Yeida?
The eligibility criteria required for YEIDA is given below:
- The age of the applicant must be 18 years or more.
- The applicant must be the citizen of India.
- The applicant must not have an already existing FLAT or Plot allotted by the YEIDA.
- An applicant can apply for only one plot.
Q.2 Is it good to buy commercial property?
Commercial properties are usually regarded as secure investment options, offering higher returns compared to many other investment instruments. The presence of regular, substantial rental income further enhances their appeal among buyers.
Q.3 Can we resale Yeida plots?
A seller can sell their property even if possession has not been given, including unregistered plots. Whether a lease has been executed or not is irrelevant. The seller must execute a registered agreement of sale (with 2% stamp papers), and the transfer can be completed.
Q.4 What is the circle rate of commercial properties in Yamuna Expressway?
The circle rates for commercial properties in the Yamuna Expressway area range from Rs 16,300 to Rs 46,000.
