by THO
The Yamuna Expressway Industrial Development Authority (Yeida) on Wednesday said it has finalised the design of its new office building to be built in Sector 18, where a residential cluster is being developed in the close proximity of the Noida international airport along Yamuna Expressway.
It will spend around ₹350 crore on the construction of this state-of-the-art five storey building that will be made out of steel and glass, said officials. The new office building will be able to accommodate at least 1,000 employees, they said.
Since 2018, the Yeida has been working on selecting experts to ready the design of its new office building. After five years, Yeida has finalised the design and said the building will come up on 27,800 square metres.
Yeida has also earmarked 4,000 square metres each for zone offices in four sectors, including sectors 17, 22E, 22D and 29. However, the work on zonal offices will be taken up only in phase 2, after the main office building is completed, said officials.
Also Read: ATS, Logix and Greenbay agree to pay dues to obtain nod for flat registry
“We will soon issue a tender to select a construction agency and work will start on the ground after the model code of conduct notification, in place for 2024 Lok Sabha elections, is lifted. We have completed the formalities related to the design and tender. We hope that if all goes as per the plan, the authority will start work at the site in September. And the work is expected to be completed within 12 to 18 months,” said Arun Vir Singh, chief executive officer, Yeida.
Currently, Yeida’s main administrative office functions out of a building taken on rent in Greater Noida’s Sector Omega I.
Also Read: 7 things real estate investors should keep in mind before buying property in Greater Noida and Noida
With the Noida international airport in Jewar set to become operational by 2024 end, Yeida is expanding its area and consumer base in view of the demand for all kinds of land, particularly for industrial use. As a result, it needs to have its own office for smooth functioning, said officials.
“We aim to build a sustainable green building so that we can achieve the highest rating for green building standards, such as LEED and GRIHA, among others. Our building will be iconic,” said Singh.
