The Yamuna Expressway Industrial Development Authority (YEIDA) has earmarked three commercial plots near the Noida International Airport solely for hotels. The three land pockets are in three sizes:
3,400 square metres (sq m), 5,000 sq m and 10,000 sq m. These plots are located in YEIDA’s Sector 28 which is in close proximity of the Yamuna Expressway and also the upcoming airport in Jewar.

Flight operations will start soon at the Noida International Airport. Once the airport gets operational, commercial and industrial activities will also increase in the region. The area will also need good hotels as it will witness high footfall of flyers. Keeping this need in mind, the Yamuna Expressway Industrial Development Authority (YEIDA) has fast-tracked its plans for commercial and industrial activities in the region. It is now inviting developers to purchase land to construct swanky hotels near the upcoming airport in the NCR region.

Under the new scheme launched by YEIDA, three plots have been put on sale, and will be allotted to developers on an e-auction basis. The auction process will end on May 21. YEIDA had launched a similar scheme in November 2023, but rolled it back after receiving a lukewarm response. “It (the new offer) is a golden opportunity for developers and hospitality companies to invest here for setting up of star-rated hotels near the upcoming airport. We are hopeful of getting a good response from prospective bidders this time.” – a YEIDA official told Moneycontrol. 

Hotels near Noida Airport: Location, size, number of plots on sale

YEIDA has earmarked three commercial plots near the Noida Airport solely for hotels. The three land pockets are in three sizes: 3,400 square metres (sq m), 5,000 sq m and 10,000 sq m. These plots are located in YEIDA’s Sector 28 which is in close proximity of the Yamuna Expressway and also the upcoming airport in Jewar. These plots will have an easy access to the east-west freight corridor, the upcoming International Film City in Sector 21 and the medical devices park planned in the area.

What is the price, allotment rate for such plots?

YEIDA has kept the reserve price of these plots between Rs 20.10 crore and Rs 62.06 crore, while the earnest money deposit (EMD) value of these plots has been fixed between Rs 2.01 crore and Rs 6.3 crore, depending on the size of the plots. These land parcels will be allotted at a rate of Rs 59,100 per sq m sans the preferred location charges. The developers who intend to buy the land will also have to pay a non-refundable processing fee of Rs 2.01 lakh to Rs 6.30 lakh, excluding 18 percent GST. The development authority aims to earn around Rs 110 crore from the allotment of these land pockets.

E-auction process

As per YEIDA officials, these plots will be allotted through an e-auction which is scheduled for June 14, after the Lok Sabha polls end. These land parcels will be allotted to successful bidders on a lease of 90 years. The allottees will be able to build multi-storey buildings on these plots, but structures exceeding 24 metres in height will have to get clearance from the Airports Authority of India (AAI).

The allottees will also have to deposit 40 percent of the total cost of the hotel plot after adjusting the EMD within 60 days of the date of issuance of the allotment letter, said YEIDA officials. The remaining 60 percent can be paid in 10 half-yearly installments with interest at the rate of 10 percent per annum in next five years.

The anticipation of the Noida International Airport’s opening, likely by September, has sparked a flurry of interest in properties along the Yamuna Expressway. Investors are rushing to buy properties on Yamuna Expressway, which is in close proximity to the airport and is targeted to become operational in the next couple of months, probably by September.

With the airport expected to boost economic activity and fast-track connectivity putting the Yamuna Expressway region on the international roadmap, end-users can take advantage of the current affordability of properties in this area.
In this highly positive scenario, expressing optimism about the Yamuna Expressway real estate market, Mr. Ajay Chaudhary, CMD, Ace Group said, “We are highly optimistic about the prospects of the Yamuna Expressway real estate market, especially with the imminent opening of the Noida International Airport. This development further solidifies the region’s status as a prime investment destination . Ace Group is committed to delivering innovative and high-quality projects that meet the evolving needs of our customers. 

Emphasizing the airport’s potential impact, Mr. Sumit Gupta, Managing Director, Alstone Manufacturing Pvt. Limited said, “The upcoming opening of the Noida International Airport is poised to be a significant catalyst for the region, not only boosting the real estate sector but also providing a substantial uplift to allied industries. As airports continue to be developed across India, we anticipate a corresponding surge in demand for real estate and allied industries. This synergistic growth presents a compelling opportunity for investors and businesses looking to capitalize on India’s expanding aviation infrastructure. Drawing from our experience, such as our successful cladding projects at the airports across Ayodhya, Gwalior, Shivamogga, Ahmedabad, and Adampur where we utilized Alstone cladding, we are well-positioned to seize similar opportunities and continue contributing to the entire industrial landscape of the country.”

While highlighting the current affordability of properties, Arjunpreet Singh Sahni, Executive Director, Solitaire Group said, “With the airport expected to boost economic activity and the fast-track connectivity putting Yamuna Expressway region on the international roadmap, it’s time for early investors to reap rich rewards. Our Solitarian City project at this location has seen significant appreciation in property rates. However, end-users can take advantage of the current affordability of properties at this location, as they may not find similar affordable prices once the momentum picks up.”

Gautam Kanodia, Co-founder of Kanodia Group, emphasized the transformation in the Yamuna Expressway real estate market, stating, “Noida International Airport is catalyzing a notable transformation in the Yamuna Expressway real estate market. Its opening will be a pivotal development that will underscore the region’s burgeoning potential as a premier investment hub. At Kanodia Group, we are steadfast in our commitment to crafting living and work spaces that harmonize with contemporary aspirations and lifestyles. Our projects epitomize our unwavering dedication to excellence and innovation, providing unparalleled experiences for our discerning clientele.”

Meanwhile, this development opens up prospects for the growth of all stakeholders in the real estate sector, as the allure of both residential and commercial properties in the region is set to draw in new buyers. The surrounding area is emerging as a prime location for fresh investments, leading to a surge in property values due to escalating demand. “The Yamuna Expressway real estate market is booming as it has high potential in terms of investment and growth. The impending opening of Noida International Airport is a game-changer for this region, and we expect property prices to rise significantly in the near future,” said Vijay Jain, Managing Director, Star Estate, while shedding light on the booming real estate market of Yamuna Expressway.

UAE-based realty major Danube Properties, which recently announced a65-storeyed skyscraper named Diamondz located at Jumeirah LakeTowers in Dubai, is also very optimistic about the upcoming opening of Noida International Airport. It’s very bullish about the positive impact ofthis airport on the real estate markets. Mr. Rizwan Sajan, Founder and Chairman, Danube Group said, “Airports play a pivotal role in driving growth in every real estate location, and similarly, Noida International Airport is here to bring about a transformative change and it also brings us closer to our Indian homebuyers. Living at a location with an international airport in close vicinity is a lifestyle choice that offers convenience and accessibility to global property hubs. Danube looks forward to every opportunity emerging in India and its properties back in Dubai. Especially with our 1 percent payment plan, we want more and more Indians to leverage the opportunity and own their choicest property of their own in our new project Diamondz rather than living in rented accommodations.”

Meanwhile, several early real estate projects on Yamuna Expressway are experiencing substantial price appreciation, marking the highest rise in NCR. 

The NIAL is responsible for overseeing the construction of the greenfield Noida International Airport at Jewar.

The Noida International Airport Limited (NIAL) has announced that a trial run at the Jewar Airport is expected to begin by the end of June as the first phase of the project is almost 80 per cent complete.

The NIAL is responsible for overseeing the construction of the greenfield Noida International Airport at Jewar.

Officials associated with the project said here on Sunday that the NIAL has informed the Uttar Pradesh government during a meeting held last week that the runway had been completed and 80 per cent of the work of the project has now been completed.

NIAL CEO Arun Veer Singh said the UP government has been informed that other necessary facilities, including the installation of technical equipment, will be provided in the next three months. “Our target is to start trial runs on the runway by the end of June or the beginning of July as we aim to start flight operations at the airport by the end of September 2024,” he added.

The NIAL also told the UP government that out of a budget of Rs 10,056 crore, about Rs 7,371.51 crore has been spent so far on the greenfield airport project.

The NIAL officials said flight-related equipment would be installed on the runway and air traffic control (ATC) tower this April. According to them, most of the civil work on the ATC has been completed except for the finishing touches which are being given at present.

Additionally, the state government has directed local agencies, including the Yamuna Expressway Industrial Development Authority (YIDA) and the NIAL, to build a metro line to provide connectivity from the Noida Airport to the rest of Delhi/National Capital Region (NCR).

Officials said the YIDA has already engaged the Delhi Metro Rail Corporation (DMRC) to prepare a detailed project report to conduct a feasibility study.

During a calibration flight, specialised aircraft equipped with precise measurement instruments fly predefined patterns around the airport’s airspace.

The Noida International Airport has started calibrating the ground-based radio navigation system at the greenfield facility this week with a maiden turboprop aircraft flight. The airport, located at Jewar, around 75 km from Delhi, is scheduled to start commercial operations by the end of 2024.

The Yamuna Expressway Authority aims to make revenue of at least Rs 450 crore by the allotment of these group housing plots near Noida Airport. The last time YEIDA had allotted group housing plots was in 2014. The scheme closes on May 20, 2024 and the e-auction will be conducted on June 10, 2024.

After failing to attract buyers in its previous tender, the Yamuna Expressway Industrial Development Authority (YEIDA) has reintroduced its group housing scheme and put on sale six plots in sector 22D along the Yamuna Expressway near Noida International Airport.

According to officials, the authority is looking at a revenue of at least Rs 450 crore from the allotment of these group housing plots.

“The last date of registration and fee submission is May 20. This time we are hopeful of getting good response from bidders for these six group housing plots,” a YEIDA official told Moneycontrol, requesting anonymity.

Here are five things you need to know about YEIDA group housing plots scheme:

Number of plots and sizes

Under the scheme, the authority has put on sale six group housing plots in different categories. Five of these plots measure 20,000 sqm each, while the other one is of 40,000 sqm.

Location

These plots are located in YEIDA Sector 22D along the Yamuna Expressway, which connects the heritage cities of Mathura and Agra with Greater Noida. These plots are in proximity with the proposed film city, the upcoming Noida International Airport near Jewar, Buddha International Circuit and Medical Device Park. The sector 22D also have direct connectivity with the Eastern Peripheral Expressway that connects western Uttar Pradesh with Delhi and Haryana.

Price and registration fee

The reserved price of plots has been fixed between Rs 61.5 crore and Rs 135.3 crore, depending on the size and location. Reserved rate of bidding ranges between Rs 30,750 per sqm and Rs 33,825 per sqm. The registration fee or earnest money deposit (EMD) amount has been fixed at 10 percent of the cost of the plot. Given the different categories and sizes of plots, the registration amount has been fixed between Rs 6.15 crore and Rs 13.53 crore.

Allotment

Bidders can submit their applications and EMD amount till May 20, 2024. However, they can submit the required documents for the bidding process till May 21, 2024. These group housing plots will be allotted through an e-auction which will be held on June 10, 2024.

Payment Plan

With an aim to ease the payment of land cost for developers, the YEIDA has allowed to take payment in parts instead of paying the property cost up front in 90 days.

According to the bid document, the applicants would have to deposit 10 percent earnest money at the time of application. Successful bidders will have to pay 40 percent of the total cost after adjusting the EMD amount within 60 days of the plot allotment letter. The remaining 60 percent will have to be paid over five years in 10 half yearly instalments.

With an aim to expedite the process of land acquisition for the development of a dedicated sector for industrial growth, the Yamuna Expressway Industrial Development Authority (YEIDA) has released a fund of over Rs 650 crore to the district administration for the acquisition of land along Yamuna Expressway near the upcoming Noida International Airport, officials aware of the matter said.

A senior YEIDA official said that the Authority has to acquire around 244 hectares of land for the development of a dedicated industrial sector named as Sector 10 near Jewar Airport. The acquisition is likely to be completed in next few months, and after that the Authority will be handed over the land for allotment process.

The official added that earlier in February, the Authority had also released Rs 72 crore for the same purpose. “The process of land acquisition is expected to be completed in next few months as the social impact assessment has already been completed. We anticipate that the entire process including the allotment of land for setting up of industrial parks will be over towards the end of 2024,” he said.

Noida, Mar 12 (PTI) The Yamuna Expressway Industrial Development Authority (YEIDA) on Tuesday announced a budget of almost Rs 10,000 crore for 2024-25 fiscal, making provision of Rs 700 crore for Noida Airport expansion and Rs 300 crore for rapid rail connectivity.

Of the total budget, 80 per cent would be spent on land acquisition as the YEIDA has planned manufacturing clusters for electric vehicles (EVs), semi-conductors, Data Parks, among other specialised companies, officials said.

The YEIDA, which functions under the Uttar Pradesh government and manages land along the 165-km-long Yamuna Expressway from Greater Noida to Agra, also announced a hike of 5.41 per cent in the cost of land under its area.

The budget was presented to the YEIDA’s Board during its 80th meeting chaired by its chairman Anil Sagar which approved it.

“We have prepared an ambitious plan for development of new sectors new allotments, including innovative sectors like semiconductors and Data Park. We are acquiring land for eight new sectors, creating new land bank. For this, the budget this year is being increased from Rs 5,630 crore to Rs 9,992 crore, which is almost double as compared to last year. Of the total budget, over Rs 6,000 crore would be spent on land acquisition, Rs 2,000 crore in development works,” YEIDA’s CEO Arun Vir Singh said.

“In essence, almost 80 per cent of the budget, which is close to Rs 10,000 crore, would be spent on land acquisition and development of new sectors. These new sectors would have clusters for EVs, semi-conductors, electronic manufacturing, and dedicated parks for industries like leather, plastic, handloom and transport, etc. have been planned,” Singh said.

YEIDA, which is a 12.5 per cent stakeholder in the upcoming Noida International Airport, has planned connectivity between the airport and Delhi through Ghaziabad via the RRTS rail system.

“For acquisition of land for the third phase expansion of the airport in Jewar, a provision of Rs 700 crore has been made in the budget. Also, a provision of Rs 300 crore has been made in the budget for the rapid rail, which would be connecting the airport in Jewar to Ghaziabad,” Singh told reporters.

The airport is a PPP project of the Uttar Pradesh government which is being made by Yamuna International Airport Private Limited, a fully-owned subsidiary of Swiss firm Zurich Airport International AG. The first phase of the airport is scheduled to open for commercial operations by this year end.

Separately, the senior IAS officer said the YEIDA recently acquired 750 acre land in Aligarh district and work is under process to acquire 17-20 acre more land in Tappal area.

“This is an ambitious budget of almost Rs 10,000 crore and we never had a budget of this scale,” Singh noted.

Considering the cost inflation index, YEIDA has made an increment of 5.41 per cent in the cost of land in its area in this budget.

Singh reasoned that this is an increment due to the cost inflation index and done to make sure that this area remains a “lucrative destination for investors”.

“The move will also ensure that no extra burden is placed on the industries and there is not much difference in cost of land allotment to new industries,” he claimed, but did not explain how.

For residential sectors, the YEIDA is coming out with allotment schemes for vestibules and kiosks for cooperative milk distributors like Amul, Parag and Mother Dairy, he said.

This is not going to be a for-profit venture for the YEIDA, but to bring such cooperatives in the region to sell milk and groceries and benefit local residents, he added. PTI KIS AS AS