Thursday, July 25, 2024

YEIDA to Conduct E-Auction of Hotel Plots Near Noida International Airport on Dec 22

The Yamuna Expressway Industrial Development Authority (YEIDA) is set to allocate land designated for hotels in close proximity to the upcoming Noida International Airport in Jewar. An e-auction for three commercial plots is scheduled for December 22, with the application deadline extended to December 14. Located in Sector 28 along the Yamuna Expressway, these plots offer convenient access to the eastern-western freight corridors, the proposed International Film City in Sector 21, and the planned medical devices park in the area. The authority anticipates generating a minimum of Rs 108 crore through this e-auction, attracting interest from major players like the ITC Group.

“We are receiving positive responses to the scheme, with notable entities expressing interest in establishing hotels near the forthcoming airport. To accommodate potential bidders, we have extended the application deadline to December 14 and will conduct the e-auction on December 22 for the allotment of these hotel plots,” stated a senior YEIDA official to Moneycontrol.

The scheme, initiated on November 1, offers three commercial plots of varying sizes—3,400 square meters, 5,000 square meters, and 10,000 square meters. These plots will be allocated at a rate of Rs 59,100 per square meter, with additional preferred location charges. The reserve prices range from Rs 20.10 crore to Rs 62.06 crore, and the earnest money deposit varies between Rs 2 crore and Rs 6.3 crore based on size. Applicants must pay a non-refundable processing fee ranging from Rs 2.01 lakh to Rs 6.30 lakh, excluding 18 percent goods and services tax.

Successful bidders will receive leases for 90 years, allowing the construction of multi-storey buildings on their plots without specific height restrictions. However, structures exceeding 24 meters in height will require clearance from the Airports Authority of India, according to officials.

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