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YEIDA Launches Scheme To Sell Commercial Plots Near Jewar Airport

YEIDA Launches Scheme To Sell Commercial Plots Near Jewar Airport

YEIDA Launches Scheme To Sell Commercial Plots Near Jewar Airport
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The Yamuna Expressway Industrial Development Authority (Yeida) on June 20 launched a new scheme selling plots for industrial, mixed-use and institutional purposes. These plots will be located near the upcoming international airport in Jewar in Greater Noida and are expected to boost the industrial and commercial development around the project.

Plots will be sold on leasehold basis, spanning for 90 years from the day the deed is executed.

Location

The plots under the newly-launched scheme are located at sectors 29, 32 and 33.

Size & price

Size of plots (in sqm)

Price (Rs per sqm)

Up to 4,000

6,670

4,000-8,000

5,680

8,000-20,000

4,810

20,000-40,000

4,370

40,000-80,000

4,210

Above 80,000

4,050


Who can apply

According to the brochure of the scheme, an individual, a proprietorship firm, a registered partnership firm, a limited liability partnership firm, a registered trust, a registered society, a private limited company, a public limited company, a public sector undertaking or a government or semi-government undertaking could apply. However, a consortium of any kind will not be allowed to participate.

Documents required

Type of applicant

Documents required

Company

·  Certificate of incorporation issued by the Registrar of the Companies

·  Memorandum of Association and Articles of Association

Society

·  Registration certificate issued by the Registrar of Societies

·  Memorandum of Association of society

·  Rules & Regulations of the society

Trust

·  Registered trust deed

Partnership firm

·  Form A and Form B issued by the Registrar of Firms

·  Partnership deed

Individual/proprietorship firm

·  Copy of PAN card/aadhaar card.

·  Copy of passport/voter card.

·  Copy of recent bank statement from any nationalised bank

Limited Liability Partnership (LLP) firm

·  Certificate of incorporation issued by Ministry of Corporate Affairs

·  LLP Agreement

Processing fee

Interested investors will have to pay a non-refundable and non-adjustable processing fee of Rs 25,000 and an additional GST through online payment gateway of the Yeida. Bank transfer will have to be made to the Greater Noida branch of ICICI Bank (Account number: 218305500106; IFSC code: ICIC0002183).  

Allotment process

The authority has kept it an open-ended scheme, which means there is no closing date of this. The allotment of these plots will be open-ended and investors’ selection will be based on the submission of online application through Nivesh Mitra Portal (www.niveshmitra.up.nic.in).

Registration fee

The registration fee for the allotment of the plot after an investor’s bid is selected will be the 10 per cent of the total cost of the plot. This fee is adjustable or refundable. The payment can be made to the same ICICI Bank account as mentioned above.

Allotment fee

After the registration, the investor will have to pay an allotment fee of 30 per cent of total cost of the plot after adjusting registration money within 60 days from the date of issue of allotment letter without interest. The investor will have the option to make the full payment of the cost of the plot within 60 days from the issue of allotment letter. In such a case, the investor can get a rebate of two per cent on the total cost.

However, if the investor fails to submit the allotment money within the set deadline, the allotment will be cancelled and 10 per cent paid as registration amount will be forfeited.

For those planning to pay in installments will have to pay 70 per cent of the remaining cost in 10 equal half-yearly installments with an interest rate of 10.5 per cent annually. In case an investor defaults an installment, interest of 13.5 per cent compounded half yearly will be levied for the defaulted period.

It is important to note that the Yeida will levy location charges on certain plots. These include the ones located on 45-metre wide roads, the corner plots or the ones facing green belt or park. The location charges will be levied at five per cent of the total cost of the plot.

Development on plot

Development on the plot will be done adhering to the building regulation of the Yeida. The investor can start the construction work on the plot once they have an approved building plan. The investor will also have to give the Yeida in writing about completion of the project in the timelines mentioned in the approved plan.

Last Updated: Fri Jun 28 2019

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@@Fri Jul 05 2019 13:15:19