The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced a new plot allotment scheme, in line with Chief Minister Yogi Adityanath’s vision, aimed at boosting the establishment of hotels in Greater Noida. The scheme offers three different categories of hotel plots in Sector 28, Greater Noida, and these plots are strategically located near the Jewar Airport, making them highly attractive for hoteliers interested in both budget and premium hotels.
The application deadline for plot allotment is set for November 20. Successful bidders will be granted these plots by the Uttar Pradesh Government on a lease of 90 years. Hotel developers acquiring land through e-auctions are required to complete the initial construction phase within three years and the entire project within five years.
The reserve premium prices for these plots, ranging from 3,400 to 10,000 sq m, are between Rs 20.10 crore to Rs 62.06 crore, while the Earnest Money Deposit (EMD) values range from Rs 2 to 6.3 crore.
Applicants are subject to various criteria, including financial prerequisites. For instance, individuals or organizations applying for a 3,400-sq m plot should have a minimum net worth of Rs 15 crore, along with a minimum total turnover of Rs 30 crore over the last three years and the current year.
To participate in the e-auction, applicants must register on the YEIDA Auction Tiger online gateway, with a registration fee of Rs 1,000. Additionally, they must possess relevant experience in the field of hotel construction, with a track record of building and operating hotels of different star categories in India and abroad.
The scheme allows recipients to construct multi-story buildings on their allotted plots, with no specific height restrictions, although hotel structures exceeding 24 mtr in height will require clearance from the Airports Authority of India (AAI). The master plan for hotel development will adhere to YEIDA’s conditions, with ground clearance of 40 per cent and parking space for every two guest rooms. The Floor Area Ratio (FAR) for the entire project has been fixed at 3.00.
In addition, there are various charges for preferential location determination, including five per cent for corner plots, five per cent for green belts, and 15 per cent for roadside and corner locations.
YEIDA’s new plot allotment scheme offers a golden opportunity for hoteliers to invest in Greater Noida’s growing hospitality sector, supported by state-of-the-art facilities and a strategic location near the Jewar Airport. Further details can be found on the official YEIDA website, where the scheme brochure is available for download.