NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) raised a total of ₹389 crore from the e-auction of three group housing plots spanning approximately 13 acres.
The combined reserve price for these plots was set at ₹283 crore, with final bids surpassing this figure by ₹106 crore, significantly boosting the authority’s revenue from the auction held on Friday.
Provence Developers acquired one plot with a bid of ₹95 crore, Eldeco Infrastructure & Properties bid ₹105 crore, and Northwind Estate topped the auction with a bid of ₹189 crore.
With these latest three allocations, the total number of group housing plots assigned since 2024 has risen to 11. Officials noted that this e-auction demonstrated “renewed traction” in the residential sector surrounding the upcoming Noida International Airport.
YEIDA anticipates that approximately 10,000 flats will be constructed on these newly allocated plots, primarily in Sector 22D of Yamuna City. High-rise residential buildings are expected to start construction in phases, contingent upon necessary approvals.
Since 2024, YEIDA has allocated eight group housing plots ahead of this latest auction. Developers who have secured land during this time include Purvanchal Projects, Gaurs Group, Arihant Group, Eldeco Infrastructure & Properties Ltd., and Vibhor Vaibhav Infrahome, with some developers acquiring more than one parcel.
The land parcels range from around 20,000 sqm to over 52,000 sqm, indicating a blend of medium- to large-scale residential projects.
This renewed allotment initiative follows a gap of nearly 13 years, with the last prominent group housing scheme launched in 2011. The total number of group housing projects in Yamuna City has now increased to 19 with the recent addition of these 11 plots. However, several earlier projects remain unfinished, and some are undergoing insolvency proceedings in the National Company Law Tribunal, leaving some homebuyers awaiting possession.
As per YEIDA, more than 30,000 residential plots have been allotted under various housing schemes so far, and over 1,100 allottees have received completion certificates.
Authority officials stated that with the airport operations approaching, they are prioritizing residential densification alongside industrial and commercial expansion to facilitate balanced urban development.
