The Yamuna Expressway Industrial Development Authority (YEIDA) has garnered over Rs 37 crore through the e-auction of eight institutional plots along the expressway between Greater Noida and Agra, the Uttar Pradesh government said on Friday.

"The successful bidders are poised to invest approximately Rs 86 crore in these plots, facilitating employment opportunities for around 600 individuals after the projects become operational," the government said in a statement.

"Notably, the YEIDA received Rs 5.65 crore more than the bid size for the e-auction of plots. YEIDA is one of the key investment destinations in India with major projects such as Jewar Airport and Film City taking shape," the UP government said.

The scheme, initiated with information published on December 11, 2023, for plot allotment via e-auction, ended on Thursday, it said.

"The e-auction resulted in a total bid value of approximately Rs 31.48 crore for eight plots, against which the authority received Rs 37.12 crore, marking an increase of Rs 5.65 crore. This development is poised to inject vigor into the growth trajectory of the YEIDA," it added.

The government said 14 applications were received for plots for six nursing homes, 14 for one corporate office plot, and 1 for a senior secondary school plot under this scheme.

The largest plot, designated for a senior secondary school, spans an area of 10,115 square meters, equivalent to more than 2.5 acres. This particular plot was received by Subhash Infraengineers Pvt. Ltd, according to the statement.

Additionally, Flux Capital Pvt. Ltd. successfully received the corporate office plot, bidding nearly double the original bid price.

Similarly, the nursing home plots were received by Metro India Ltd, JPS Real Estate, RR Medical Services Pvt. Ltd., Naveen Medicare Pvt. Ltd. (with two bids), and Ramraj Wellness Pvt. Ltd. Notably, bids exceeding the initial bid price were received for all six of these plots, it added.

The government noted that the allotments are expected to generate employment for approximately 600 individuals. A combined investment of Rs 52.03 crore is set to flow into the YEIDA by finalising six nursing home bids. Implementing these nursing home projects alone will create job opportunities for around 450 people, it said.

Additionally, the final bid for the corporate office was more than Rs 9.48 crore, resulting in an anticipated investment of Rs 14.69 crore in the area, creating 120 jobs. Similarly, the final bid for the Senior Secondary School surpassed Rs 13.36 crore, indicating an investment of Rs 19.13 crore and the potential employment of about 30 individuals, it added.