Revolutionizing Corporate Development in Sector-22E

The recent e-auction of 45 plots for corporate offices near Jewar Airport has significantly boosted the coffers of the Yamuna Authority. The auction, which began on July 11 and concluded on September 17, 2024, saw intense competition among buyers, leading to astounding bid amounts well beyond expectations.

Unprecedented Auction Results

Initially, the plots were listed with a reserve price of ₹2.5 crore each, totaling ₹112.50 crore for all 45 plots. However, the auction fetched an impressive ₹265.14 crore, surpassing the reserve by approximately 134%. The three highest bids for individual plots reached between ₹25 crore and ₹28 crore, showcasing the lucrative demand for land in this strategic location.

Strategic Location Drives High Bids

All the plots are located in Sector-22E, an area already home to prominent companies such as Nasimunji, Patanjali, Vivo, JBM University, and various IT firms. The proximity to the upcoming Noida International Airport has significantly influenced buyer interest, leading to fierce bidding that resulted in the authority earning ₹152 crore more than the basic price.

Investing in Future Growth

As per experts, the revenue generated from this auction will be reinvested into future projects, accelerating the authority’s development initiatives. This plan is expected to create around 5,000 job opportunities and attract an estimated investment of ₹500 crore in the region.

The success of this e-auction not only highlights the booming real estate market around Jewar Airport but also marks a significant step in transforming the area into a corporate hub.