YEIDA launches mixed land-use plots scheme

The Yamuna Expressway Industrial Development Authority on Thursday launched a scheme for mixed land-use plots to develop integrated residential and commercial projects in areas near the Yamuna expressway. These plots can be developed as integrated industrial, institutional or recreational areas.

According to a published report, the minimum area to be developed has been fixed at 10 acres. The core use – industrial, institutional or recreational – will be restricted to 75 per cent of the total plot size. Support facilities and utilities will take up another 5 per cent and commercial ventures 8 per cent while 12 per cent will be reserved for residential use.

“Allotments will be made on first-come-first-served basis and also interviews,” said Arunveer Singh, the Additional CEO of YEIDA.

The recreational area can include an amusement or theme park, a sports city or club. Applicants interested in developing educational facilities can also establish medical colleges, degree colleges or vocational training institutes can buy plots for institutional use. Only non-polluting industries will be considered for the industry slots, Singh added.

While the rate for industrial plots with support activity has been fixed at Rs 7,470 per square metre, the price for institution and recreational plots with support activity will be Rs 8,060 and Rs 7,280/ sq m, respectively. For plots bigger that 1.80 lakh sq m (about 45 acres) prices for industry, institution and recreational plots will be Rs 7,330, Rs 7,720, and Rs 7,110, respectively.

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Industrial plots without support activity measuring up to 10 acres will be sold for Rs 4,250/sq m. Buyers will have to pay 5 per cent of the land price as registration and 15 per cent as allotment money.