The Yamuna Expressway Industrial Development Authority (YEIDA) recently held an auction for 45 plots in Greater Noida in Sector-22 E, located close to Jewar Airport. These plots were set aside for corporate offices, with a starting price of Rs 2.5 crore each. During the auction, three of these plots, each measuring 1,000 square meters, sold for an astonishing Rs 25 to 28 crore.
High-Priced Sales in the E-Auction
The e-auction took place between July 11 and September 17, 2024. Sanash Impex Private Limited secured a plot for Rs 25.84 crore, Global Private Limited bought another for Rs 26.64 crore, and Challenger Computer Limited paid Rs 28.28 crore for the third. In total, YEIDA earned Rs 80.76 crore from these three plots alone, which is 12 times more than the original base price.
Massive Profit for YEIDA
The reserve price for all 45 plots combined was Rs 112.50 crore. However, due to the high demand, the auction brought in Rs 265.14 crore—an impressive 134% increase over the expected value. This resulted in a massive additional profit of Rs 152 crore for YEIDA.
Prime Location Near Jewar Airport Attracts Major Corporations
All of the flats in Greater Noida that were sold are located in Sector-22 E, a prime area close to the new Noida International Airport. Big corporate names such as Nasimunji, Patanjali, Vivo, and JBM University have already established their offices nearby, as well as several IT companies. The strategic location is the main reason behind the high bids for these plots in Greater Noida.
YEIDA Plans Future Development and Job Creation
According to YEIDA CEO Arun Vir Singh, the money from this auction will be invested in new projects that will further enhance the area’s development. These projects are expected to create around 5,000 new jobs and attract an investment of Rs 500 crore into the plots in Greater Noida.
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