Landmark e-auction: YEIDA secures Rs 500 cr investment
Greater Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) achieved a significant milestone on Tuesday under the guidance of Chief Minister Yogi Adityanath. Through a successful e-auction, YEIDA secured substantial investment by auctioning 45 plots, each measuring 1,000 square meters. This auction is expected to bring in an investment of Rs 500 crore to the YEIDA region, said officials.
“The operational commencement of the projects associated with these plots is anticipated to create more than 5,000 employment opportunities, contributing to the economic development of the area. The triumph of this e-auction is set to invigorate the industrial landscape along the YEIDA region,” said CEO YEIDA Arun Vir Singh.
The Uttar Pradesh government’s initiative to provide plots in the YEIDA region has attracted significant attention from various industrial groups, who are keen to invest in a diverse range of projects.
On Tuesday, YEIDA conducted an e-auction under its institutional plots scheme, which garnered impressive bids. The auction featured 45 plots, each spanning 1000 square meters, intended for corporate office spaces in the YEIDA region. Despite the reserve price for each plot being set at Rs 2.50 crore, totaling Rs 112.50 crore, YEIDA managed to secure a remarkable Rs 265.14 crore through the auction. This amount surpassed the original bid price by Rs 152.64 crore, or 134 per cent.
“The overwhelming response to the auction highlights the strong desire of industrial groups to establish their presence in the YEIDA area, indicating their eagerness to set up corporate offices and industrial ventures,” the senior officer added. Among the notable bids, Challenger Computer Ltd. secured plot number 64 for Rs 28.28 crore, while Alexis Global Pvt. Ltd. bid Rs 26.64 crore for plot number 69, and Sanash Impex Pvt. Ltd. offered Rs 25.84 crore for plot number 59. These three companies collectively contributed Rs 80.76 crore, accounting for nearly one-third of the total bid amount.
YEIDA officials expressed satisfaction with the successful e-auction, emphasizing that the establishment of corporate offices in the area will attract large-scale investments and generate thousands of new job opportunities.
