BIG BREAKING

BIG BREAKING: 3 housing societies will settle near Jewar Airport, thousands of people will get houses, Yamuna Authority launched the scheme

Greater Noida: Thousands of people are going to get a chance to buy flats and apartments near the Noida International Airport being built in Jewar. On the occasion of Holi, the Yamuna Expressway Industrial Development Authority launched a scheme to set up three housing societies. Under this scheme, the authority is going to allot 1,50,000 square meters of land. The authority is expected to earn at least Rs 500 crore. Applications can be made under this scheme from Friday i.e. March 10 to April 10. 

The highest bidder will get the land: The allotment of land for setting up the housing society will be done on the basis of bids. Meaning, the land will be auctioned. The builder who bids the highest will be given the land. Chief Executive Officer of Yamuna Authority Dr Arunveer Singh said that three big plots of land are being auctioned in Sector 22-D of Yamuna City. Of these, one plot is of 60,000 square meters and 2 plots are 45-45 thousand square meters. In this way, Yamuna Authority is going to auction 1,50,000 square meters of residential land. The CEO further added The reserve price of the allotment has been fixed at Rs 30,750 per sqm for these three plots. An additional 10% prime location charges will have to be paid by the builder for a plot of 60,000 sqm. Thus, for a plot of 60,000 sqm The reserve price has been Rs 33,825 per square metre. The reserve price for the remaining two plots is Rs 30, Only 750 square meters will remain. Above these rates, allotment will be made to the highest bidder builders.

The Authority will earn at least 480 crores: CEO Dr Arunveer Singh said, Builders or consortiums of companies willing to bid can apply from March 10. April 10 will be the last date to submit the earnest money. Time will be given till April 12. A pre-bid meeting will be held with the companies on March 21, 2023. The names of the builders who qualify to bid will be announced on April 28 at 5:00 pm. The auction will be held on May 4, 2023. Applicants will be able to bid online on that day from 11:00 am to 2:00 pm. Arunveer Singh further said. The Yamuna Authority will get at least Rs 480 crore from this land auction. The common man will get a new opportunity to get residential facilities within the Yamuna City limits. This sector is close to the Noida International Airport.

10% amount has to be deposited along with the registration: According to a brochure issued by the Yamuna Authority, builders desirous of acquiring land will have to deposit 10% of the amount along with the application. The successful builders will have to deposit the full amount within 180 days after the allotment letter is issued. Small companies can apply by forming a consortium. The lead member company of the consortium will hold at least a 51% stake. Three more companies can be included as members of the consortium. They will have to hold 20%, 15% and 14% stakes. Less than 4 companies can be included in the consortium, but more than 4 companies will not be allowed to be included.