YEIDA i.e. Yamuna Expressway Industrial Development Authority incurred an investment of Rs. 500 Crore recently. The authority reaped a mammoth amount by e-auctioning 45 commercial plots in the city. Each of these plots has a ticket size of 1000 square meters.
The commercial plot auction took place for corporate offices within the YEIDA region.
Yamuna Expressway Industrial Development Authority reserved Rs. 2.50 crore per plot. Thus, accumulating the total cost to Rs. 112.50 crore. YEIDA secured Rs.265.14 crore via the auction procedure. It also calculates to more than Rs. 152.64 crore or Rs.134% more than the original bid price.
To win office spaces, Challenger Computer, Alexis Global, and Sanash Impex make a bid of Rs.28.28 crore, Rs.26.24 core, and Rs.25.84 crore respectively.
A month ago, YEIDA, Yamuna Expressway Industrial Development Authority recently inked a memorandum of understanding (MoU) with HUDCO (Housing and Urban Development Corporation) to act as a consultant. Via the deal, HUDCO will also assist the Authority in fund management for land acquisition.
HUDCO is a Central Government-owned PSU that will work with the Yamuna Authority to execute developmental projects. The public sector unit (PSU) will also play a crucial role in the execution of urbanization plans. These upcoming plans are in the vicinity of Noida Greenfield Airport parallel to Yamuna Expressway.
“We have signed an agreement with HUDCO to arrange financing for land acquisition for multiple mega projects. This MoU paves the way for this agency to work as a consultant for planning and executing these mega projects. We need HUDCO’s support for developing the industrial area, which has been planned in the catchment area of the airport. As the airport is scheduled to become operational by end of 2024, we are flooded with proposals from global and domestic investors for land to set up businesses. To make that happen in a timebound manner, we need expert consultancy services,” said Arun Vir Singh, Chief Executive Officer, YIEDA.
