The Yamuna Expressway Authority (YEIDA) launched a residential plot scheme in December, conveniently located near the upcoming Jewar Airport. The scheme, which offered plots in sectors 16, 18, and 20 of YEIDA, just 6 km from the airport, closed on January 24th with an overwhelming response. It generated over 30 times the anticipated interest.
Overwhelming Demand for Plots
The authority initially offered 416 plots, ranging in size from 120 to 500 square meters and 1000 to 4000 square meters. The circle rate for these plots varies from Rs 17,400 to Rs 17,800 per square meter, depending on the plot size. By the closing date, YEIDA officials reported a staggering 13,888 applications.
Application Breakdown
The smaller plots, specifically the 120 square meter options, were exceptionally sought-after, garnering almost 7,000 applications. Even the 500 square meter plots received a minimum of two applications each. In contrast, the larger plots, ranging from 1000 to 4000 square meters, witnessed comparatively less competition, attracting only 128, 27, and 21 bidders, respectively. The draw for plot allocation, officials stated, is scheduled post the revocation of the model code of conduct.
Official Statements and Future Prospects
Shailendra Bhatia, OSD to YEIDA, confirmed, "approximately 13,889 applications received for 416 plots offered under the scheme. This number may increase after the data is consolidated." He clarified the circle rates, stating that plots up to 200 square meters are priced at Rs 17,800 per square meter, while plots exceeding 200 square meters have a circle rate of Rs 17,400 per square meter. A senior YEIDA official provided additional context for the robust response. "This excellent response is a sign of the interest that many people have in the Yamuna Expressway area." The official attributed this surge in demand to the forthcoming Jewar Airport and several other key infrastructural developments, including the International Film City, industrial parks, and a high-speed rail project. It's worth remembering that YEIDA previously unveiled a city plan encompassing 440 plots.
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