The Yamuna Expressway Industrial Development Authority (YEIDA) has just auctioned 45 plots of land for corporate offices in Sector-22 E near Jewar Airport. Their reserve price of these plots was Rs 2.5 crore. Out of these, three plots which were of 1,000 square meters each, were auctioned for Rs 25 to 28 crore.
The e-auction process started on July 11 and ended on September 17, 2024. Sanash Impex Private Limited bought a plot for Rs 25.84 crore. Global Private Limited bought another for Rs 26.64 crore and Challenger Computer Limited bought the third for Rs 28.28 crore.
YEIDA received a total price of Rs 80.76 crore from the auction of these three plots, which is 12 times more than the basic price.
The total reserve price for all the 45 plots was Rs 112.50 crore, but in the auction the authority got about 134 percent more than the reserve price, amassing a whopping amount of Rs 265.14 crore, making an additional profit of Rs 152 crore.
All these plots that were sold off were located at Sector-22 E near Jewar Airport. Many big corporate offices like Nasimunji, Patanjali, Vivo, JBM University, and several IT companies have set up their campuses near that area. Due to its proximity to Noida International Airport, high bids were placed for these plots.
YEIDA CEO Arun Vir Singh said that the revenue obtained from this auction will be invested in future projects, which will accelerate the development of the area. Moreover, under these projects, about 5,000 people will get employment opportunities and an investment of Rs 500 crore will be made on these plots.
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