The Yamuna Expressway Industrial Development Authority (YEIDA) has successfully generated a total of Rs 389 crore through the e-auction of three group housing plots, which collectively cover approximately 13 acres.
The total reserve price for these three plots was set at Rs 283 crore, and the final bids surpassed this amount by around Rs 106 crore, thereby enhancing the authority’s overall revenue from the auction held on Friday. Provence Developers acquired one of the plots with a bid of Rs 95 crore, while Eldeco Infrastructure & Properties submitted a bid of Rs 105 crore.
Northwind Estate made the highest bid at Rs 189 crore. With these three new allotments, the total number of group housing plots allocated since 2024 has reached 11. Officials indicated that the recent e-auction demonstrated “renewed traction” in the residential sector surrounding the forthcoming Noida International Airport.
The authority anticipates that approximately 10,000 flats will be constructed across these newly allocated group housing plots, primarily situated in Sector 22D of Yamuna City. The construction of high-rise residential societies is expected to commence in phases, contingent upon the necessary approvals. Since 2024, YEIDA has allocated eight group housing plots prior to this latest auction.
Developers who have secured land during this timeframe include Purvanchal Projects, Gaurs Group, Arihant Group, Eldeco Infrastructure & Properties Ltd, and Vibhor Vaibhav Infrahome. In certain instances, developers have been granted more than one parcel. The land parcels vary in size, ranging from approximately 20,000 sqm to over 52,000 sqm, reflecting a combination of medium- and large-scale residential projects. This renewed allotment initiative has emerged after a hiatus of nearly 13 years.
The last significant group housing scheme in the region was introduced in 2011. With the addition of the 11 plots allocated since 2024, the total number of group housing projects in Yamuna City has risen to 19. However, several earlier projects remain unfinished, and some are currently undergoing insolvency proceedings before the National Company Law Tribunal, leaving a segment of homebuyers in anticipation of possession.
As reported by YEIDA, over 30,000 residential plots have been allocated through different housing schemes to date, with more than 1,100 allottees receiving completion certificates. Officials from the Authority indicated that as airport operations draw near, they are focusing on residential densification in conjunction with industrial and commercial development to promote balanced urban growth.
