Yamuna e-way zone to auction biz plots

Delhi/NCR
Yamuna Expressway Industrial Development Authority (YEIDA) is getting ready to auction commercial plots in Sector 22A, located along the Yamuna expressway.

Officials said that 22 such plots, ranging from 112 sq m to 140 sq m, have been reserved at a price of Rs 98, 634 per sq m for investors, under a special scheme, titled 'Footprints for Commercial Use'. The successful technical bids will be finalized on February 27, they said.

Under the scheme, YEIDA will auction the plots on a 90-year lease to investors, P C Gupta, CEO of YEIDA, told TOI on February 11.

"There are seven plots measuring 112 sq m, eight plots of 124 sq m and seven of 140 sq m area. The floor area ratio permitted is two, allowing construction up to six floors," Gupta said.

With reserve price for the plots fixed at Rs 98,634 per sq m, the bid price for 112, 124 and 140 sq m plots will start from Rs 1.10 crore, Rs 1.22 crore and Rs 1.28 crore respectively.

While the plots have been developed by the YEIDA, the construction of these properties will have to be carried out by the prospective allottees.

"Urban development should be guided by a sustainable planning and management vision that not only promotes an interconnected green space but also a multi-modal transportation system and a mixed-use development. The YEIDA area is in the process of being urbanized and people will start getting possession of their plots by July this year," Gupta said.

Source:http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/yamuna-e-way-zone-to-auction-biz-plots/80390.html