YEIDA's Major E-Auction Success: Rs 389 Crore Generated from 13-Acre Land Sale
The Yamuna Expressway Industrial Development Authority (YEIDA) has achieved a significant financial milestone, generating a substantial Rs 389 crore from the recent e-auction of three group housing plots. These plots, with a combined area of approximately 13 acres, attracted competitive bidding that far exceeded expectations, highlighting renewed investor confidence in the region's real estate market.
Bidding Exceeds Reserve Price by Rs 106 Crore
The auction, conducted on Friday, saw the combined reserve price of Rs 283 crore surpassed by an impressive Rs 106 crore, resulting in the final bid total of Rs 389 crore. This substantial premium demonstrates strong market demand for residential development land in the Yamuna Expressway corridor, particularly as infrastructure projects progress.
The successful bidders included:
- Northwind Estate: Placed the highest bid at Rs 189 crore
- Eldeco Infrastructure & Properties: Quoted Rs 105 crore
- Provence Developers: Secured a plot with a bid of Rs 95 crore
Residential Momentum Builds Around Noida International Airport
YEIDA officials have described the auction results as evidence of "renewed traction" in the residential segment, largely driven by the upcoming Noida International Airport. The authority anticipates that approximately 10,000 flats will be developed across these newly allotted group housing plots, with significant concentration in Sector 22D of Yamuna City.
Construction of high-rise residential societies is expected to commence in phases following necessary regulatory approvals. This development aligns with YEIDA's strategy to prioritize residential densification alongside industrial and commercial expansion as airport operations approach, ensuring balanced urban growth in the region.
Expanding Residential Portfolio Since 2024
With these three latest allotments, the total number of group housing plots allocated since 2024 has risen to 11. Prior to this auction, YEIDA had already allotted eight group housing plots to various developers including:
- Purvanchal Projects
- Gaurs Group
- Arihant Group
- Eldeco Infrastructure & Properties Ltd
- Vibhor Vaibhav Infrahome
In some instances, developers secured multiple parcels, with land sizes varying from approximately 20,000 square meters to over 52,000 square meters, indicating a diverse mix of medium- and large-scale residential projects in the pipeline.
Ending a 13-Year Gap in Major Allotments
This renewed allotment drive marks a significant shift after a gap of nearly 13 years since the last major group housing scheme was launched in the area back in 2011. The addition of the 11 plots allotted since 2024 brings the total number of group housing projects in Yamuna City to 19.
However, challenges remain from previous development cycles. Several earlier projects remain incomplete, with some undergoing insolvency proceedings before the National Company Law Tribunal, leaving a section of homebuyers still awaiting possession of their properties.
YEIDA's Broader Housing Development Context
According to YEIDA data, the authority has allotted more than 30,000 residential plots under various housing schemes to date, while over 1,100 allottees have obtained completion certificates for their properties. This latest auction success reinforces YEIDA's position as a key driver of urban development in the National Capital Region, particularly as infrastructure connectivity improves with the approaching airport operations.
The authority continues to focus on creating a balanced urban ecosystem that supports both residential communities and commercial enterprises, with the Yamuna Expressway corridor emerging as a crucial growth node in Uttar Pradesh's development landscape.
