Yamuna Expressway Authority to Auction Land Near Jewar Airport for 5-Star Hotels

In order to develop the area around upcoming Jewar Airport, Yamuna Expressway Authority (YEIDA) has planned to auction land for 5-star hotels.

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Jewar
Jewar

In a recent move to develop Jewar and the area around the upcoming Jewar Airport, Yamuna Expressway Authority (YEIDA) has decided to auction land for 5-star category hotels. For this, the YEIDA has geared itself to launch two ambitious land schemes on 10th of January. The auction is planned on a 650-acre of land that will be later on used to for commercial and industrial purposes.

Apart from this, Yamuna Expressway Authority is also expected to do an auction of 5 plots of around 10 acres in size for the construction of 5-star hotels near the upcoming Jewar Airport. Chief Executive Officer of Yamuna Expressway Authority, Arun Vir Singh said, “These plots are located in sectors 21, 28 and 29 near Jewar. This scheme will be time-bound and plots will be allotted on a two-bid system including technical and financial bids. The reserve price fixed for these commercial plots is ₹34,000 per square metre.”

Also Read: Construction Work for the Jewar Airport to Begin Before 2019

The second scheme that will launch on 10th January by Yamuna Expressway Authority will include industrial and mixed-use plots. “This scheme will be open-ended and allotments will be done based on presentations and financial and technical strengths of each company. We have more than 660 acres of land available for this scheme. Nine mixed land use plots are located in Sector 24 of Yamuna Expressway Authority. There are five industrial plots in Sector 33 and 146 plots measuring 5 to 10 acres in Sector 32 near Jewar. We also have nearly 80 acres of land in Sector 29 and 120 acres in Sector 28,” CEO said.

Yamuna Expressway Authority, Arun Vir Singh has further said,” We plan to handhold prospective investors and create an investor-friendly environment. In the recent road shows held last month ahead of the UP Investors’ Summit 2018 to be held in February, we have showcased various infrastructure development taking place in the Yamuna Expressway Authority area including the sanctioned airport at Jewar, proposed Metro connectivity to the airport, proposed connectivity to the Indira Gandhi International Airport, eastern and western freight corridors, etc. Our upcoming infrastructure development is expected to attract investors in and near area around Jewar,” the CEO of Yamuna Expressway Authority added.

Also Read: Six Technical Bids Shortlisted for Jewar Airport

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