The Yamuna Expressway Industrial Development Authority (YEIDA) is poised to release approximately 600 residential plots in Greater Noida, situated near the forthcoming Jewar Airport. This initiative will commence subsequent to receiving the requisite authorization from the Real Estate Regulatory Authority (RERA). The authority has indicated that the final number of plots offered could potentially see an increase due to the inclusion of surrendered plots into the scheme. The rapid escalation of land prices along the Yamuna Expressway has been attributed to the greenlighting of a film city project and definitive agreements concerning the Jewar Airport.
Plot Details
YEIDA will be presenting a range of plot sizes, starting from a compact 60 sq-m and extending up to a substantial 4,000 sq-m. The corresponding prices for these plots begin at ₹11 lakh and ascend to ₹6.6 crore. The scheme's launch is contingent upon YEIDA securing the necessary approval from RERA. The allocation of plots to eligible individuals will be conducted through a lottery system. With plots evaluated at ₹16,400, the authority aims to amass a total capital of ₹400 crore through this endeavor.
Payment Structure
Allottees are afforded the flexibility of either making a single lump-sum payment for the entirety of the plot's value or opting for a payment plan consisting of 10 installments distributed over a minimum duration of five years.
Following the approval of a film city and the finalization of the Jewar Airport project, land valuations along the Yamuna Expressway have experienced a substantial surge. Those interested in exploring similar investment opportunities can visit plots in Yamuna Expressway.
Arun Vir Singh, CEO of YEIDA, stated, “The demand for plots near the upcoming Jewar Airport is really high and we are receiving several queries regarding plots. We have filed for the RERA approval on Friday and expect to get it in one or two days.” He further elaborated, “The candidates will get one month’s time period to apply for the scheme and have to submit 10% of the total plot amount in advance. Three types of payment modes are given to allottees and the process of draw will begin in mid-April”.
RK Arora, Chairman of Supertech Ltd, commented on the escalating land values, saying, “The prices of plots near Yamuna Expressway have also risen in the last few months. We have two integrated urban areas on the Yamuna Expressway and are witnessing a great demand for plots from investors”.
Manoj Gaur, CMD at Gaurs Group, emphasized their commitment to timely project completion, noting, “We started work as soon as the government allowed construction activities to begin after post lockdown and that will ensure timely delivery”.
The Gaurs Group also possesses an integrated township development in proximity to the planned Jewar Airport, and it has attracted significant attention from both prospective homebuyers and investors.
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