Yogi government focuses on increasing commercial footprint in Greater Noida

New Delhi, 9 October: In an attempt to expand the commercial footprint in Greater Noida as part of the larger mission to make Uttar Pradesh a $1 trillion economy, the Yogi government has accelerated the process for allotment of land to businesses.

In line with Chief Minister Yogi Adityanath’s vision, the Yamuna Expressway Industrial Development Authority (YEIDA) has invited applications for allotment of lands under seven categories in Sector 22-A, Greater Noida.
The authority has set the deadline for receiving applications on October 16, while the e-auction of plots of sizes ranging from 112 to 140 square meters is scheduled for November 7. The list of successful applicants will be disclosed on November 2.

Notably, only eligible applicants can participate in this scheme, which commenced in mid-September, this year. Applicants must meet specific criteria to partake in the plot allotment process through e-auction. This includes maintaining a minimum net worth of Rs 3 to 5 crore and a minimum solvency of Rs 1.5 to 2.5 crore.

Plot will be available on 90-year lease; 5 storey construction can be done

All the relevant details and brochures related to the scheme have been uploaded on the official website of YEIDA to help applicants gather necessary information. It is noteworthy that the applicants who wish to be a part of the land allotment process through the project will get the option of downloading the brochure by depositing an amount of Rs 10,000 and GST.

Applicants for this scheme will be granted land on a 90-year lease, allowing them to build a commercial structure with a maximum height of 5 floors, including the ground floor, and utilise 100 per cent of the permissible land coverage. To avail of the benefits under this scheme, applicants must submit a processing fee of Rs 25,000 to Rs 30,000, along with 18 per cent GST. An Earnest Money Deposit (EMD) of Rs 29 lakh, Rs 32 lakh, and Rs 36 lakh is required for plots measuring 112 square meters, 124 square meters, and 140 square meters, respectively.

Commercial footprint will increase due to world-class facilities.

It is noteworthy that due to proximity to Jewar Airport, International Film City, Yamuna Expressway and Buddha Circuit, the plots obtained through this scheme will play a vital role in commercial footprint expansion in Greater Noida.

Those who buy a plot under this scheme and set up a commercial unit will benefit from all the facilities, including better connectivity in this area and the first world-class project in India in the form of the pod transit system. The project is expected to open doors to immense possibilities in the field of commercial operations in the state the future.