Yamuna Expressway Development Authority welcomes applications for 19 school, office plots near Noida airport: Details
Development activity is now gaining momentum around the newly operational Noida International Airport, with the Yamuna Expressway Industrial Development Authority (YEIDA) opening applications for 19 institutional plots.
According to a Moneycontrol report, the 19 plots, spread across Sectors 17, 18, 20 and 22E, comprise 10 sites earmarked for schools and nine for corporate offices.
Here’s all you need to know
School plots
The 10 sites for schools range from 8,000 square metres (sqm) to 14,100 sqm, with prices ranging from ₹14.22 crore to ₹23.41 crore, depending on their size and location. Of the 10 school plots, two plots of 8,000 sqm each are located in Sectors 17 and 20, while Sector 18 has four plots ranging from 9,400 sqm to 14,100 sqm. Sector 20 includes an 8,400-sq-m plot, while Sector 22E has three plots available. Of these, one measures 10,127 sqm, while the other two each span 10,115 sqm.
Applicants will be required to deposit 10 per cent of the reserve price as the registration amount. According to YEIDA officials, applications can be submitted until 16 October, while the school plots will be auctioned on 20 November and the corporate office plots on 23 November.
The registration amount for the 10 school sites is between ₹1.42 crore and ₹2.34 crore. However, the largest school plot, measuring 14,100 sqm in Sector 18, has a reserve price of ₹23.41 crore.
Corporate office plots
The nine corporate office plots are located in Sector 22E, which YEIDA has set aside for institutional and corporate-office development. While the reserve price of eight of these nine plots is ₹5.44 crore each, one has a reserve price of ₹6 crore. However, it is worth noting that all the corporate office plots measure 1,000 sqm.
Citing a YEIDA official, the report noted that the latest land offering will add institutional and commercial plots to the development taking place around the airport, alongside planned residential projects and supporting infrastructure. The availability of sites for schools and offices is expected to strengthen social and employment infrastructure in the emerging urban areas surrounding the airport.
The official noted that the final allotment prices for these plots could be higher than the respective reserve prices, owing to bidding interest. The commencement of operations at the Noida airport has reportedly increased interest in the Yamuna Expressway region, with more developers and businesses exploring land and investment opportunities along the corridor.
The latest scheme launched by YEIDA seeks to facilitate institutional and corporate development in the expanding area.
