Big boost for Noida real estate! Star hotels to come up on both sides of Yamuna Expressway – Check details

Earlier, the YEIDA extended the deadline for e-auction to December 14 from Dec 8. The Yamuna Expressway Industrial Development Authority (YEIDA) is set to hold an e-auction for the development of hotels near the upcoming Noida International Airport (NIA) in Jewar. According to reports, the e-auction will take place on December 22 (Friday) for three commercial lands located in Sector 28. All these lands are situated near the new airport. Earlier, the YEIDA extended the deadline for e-auction to December 14 from Dec 8.

Significance of the commercial land for e-auction

The three commercial land near Sector 28 is well connected to the proposed International Film City in Sector 21, and the planned Medical Devices Park. It also has easy access to the Freight Corridors.

YEIDA hopes to get a good response

The YEIDA hopes to get a good response from the e-auction process. The authority has targeted to earn more than Rs 100 crore from the e-auction of these three plots. Several big real estate industries such as ITC have shown interest in setting up hotels near the NIA.

Size of Commercial land to be e-auctioned

The authority floated the e-auction process on November 1. These commercial land are available in different sizes – 3,400 square meters (sq m), 5,000 sq m, and 10,000 sq m.

Development of Residential Plots

The YEIDA has decided to allot residential plots at parts of sectors 16,17,18,20 and 22. The details on plot size, location, and status can be checked through the GIS portal.

The Noida International Airport is likely to commence its services from next year onwards. Earlier this month, the Gautam Buddh Nagar administration directed the forest department to ensure maximum plantation along the banks of the Hindon and Yamuna rivers. The administration also instructed departments concerned to ensure compliance with guidelines related to construction works, check the burning of garbage, and take penal action on cognizable offenses.

source – ET Now