Successful e-auction of plots in YEIDA generates over Rs 37 crore, triggers investment and jobs

 YEIDA, short for Yamuna Expressway Industrial Development Authority, recently concluded a successful e-auction of eight institutional plots, yielding a total of over Rs 37 crore. The auction drew interest from potential investors and witnessed bids worth approximately Rs 31.48 crore for the plots. Notably, YEIDA received Rs 5.65 crore more than the bid size, indicating a keen market demand.

Investment and Employment Opportunities Blossom in Yamuna Expressway Industrial Area

The successful bidders for these institutional plots are expected to invest around Rs 86 crore, creating job opportunities for nearly 600 individuals once the projects are operational. This development bodes well for the economic growth and employment sector of the Yamuna Expressway Industrial Development Authority.

E-Auction Facilitates Transparent Allotment of Plots

The e-auction, which commenced with the release of information on December 11, 2023, and concluded on March 14, 2024, demonstrated transparency and fairness under the guidance of CEO Arunveer Singh. The bidding process resulted in a total bid value of approximately Rs 31.48 crore for the eight plots, surpassing the bid size. YEIDA received a commendable amount of Rs 37.12 crore from the auction, marking a substantial increase of Rs 5.65 crore.

Enhancing Investment Opportunities with Jewar Airport and Film City Projects

YEIDA is positioning itself as a key investment destination in India, with major projects such as the Jewar Airport and Film City taking shape in the region. These ambitious endeavors are attracting significant attention from investors, driving the demand for institutional plots and further stimulating economic growth in the area.

Application Details and Successful Bidders

The e-auction attracted a total of 14 applications for nursing homes, 14 for a corporate office plot, and one bid for a senior secondary school plot. M/s Subhash Infraengineers Pvt. Ltd secured the largest plot, spanning an area of 10,115 square meters or over 2.5 acres, earmarked for a senior secondary school. Likewise, M/s Flux Capital Pvt. Ltd emerged as the highest bidder for the corporate office plot with a significantly increased price. The nursing home plots were successfully acquired by Metro India Ltd, JPS Real Estate, RR Medical Services Pvt. Ltd., Naveen Medicare Pvt. Ltd. with two bids, and Ramraj Wellness Pvt. Ltd. It is worth noting that all six nursing home plots fetched bids that exceeded the initial bid prices, reflecting substantial investor interest.

Boosting Employment Opportunities and Investment Inflow

The acquisition of these plots and the subsequent investment are poised to generate employment opportunities for approximately 600 individuals. The nursing home project bids, totaling a combined investment of Rs 52.03 crore, alone are projected to create jobs for around 450 individuals. Moreover, the final bid for the corporate office plot amounted to over Rs 9.48 crore, contributing to an anticipated investment of Rs 14.69 crore in the area and the creation of 120 jobs. Similarly, the final bid for the Senior Secondary School plot exceeded Rs 13.36 crore, promising an investment of Rs 19.13 crore and potential employment prospects for around 30 individuals. In conclusion, YEIDA’s successful e-auction of institutional plots has not only generated substantial revenue but has also paved the way for employment opportunities and further investment in the region. With major projects like the Jewar Airport and Film City in the pipeline, YEIDA continues to position itself as a promising investment destination, attracting businesses and driving economic growth in the Yamuna Expressway Industrial Development Authority.

Sumit Mondal Content Analyst at Square Yards
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