YEIDA Launches Residential Plot Scheme Near Noida International Airport
The Yamuna Expressway Industrial Development Authority (YEIDA) has announced a new scheme offering over 350 residential plots for sale near the upcoming Noida International Airport. This decision comes on the heels of a successful residential plot scheme launched last year. Officials familiar with the situation confirmed the development, highlighting the increasing demand for residential, commercial, and industrial properties in the region.
“Demand has increased across all market segments–residential, commercial, and industrial– as the Noida airport in Jewar is anticipated to commence operations shortly. Because of how quickly the area is developing, people want to live and invest close to the airport. The Authority has introduced a residential construction plot scheme to profit from these variables. The last day to register for the program is August 5, and registrations have already started,” YEIDA CEO Arun Vir Singh stated.
Plot Availability and Location
The scheme offers approximately 361 plots across sectors 16, 18, 20, and 22D. These sectors are strategically located near the Yamuna Expressway, providing convenient access to Greater Noida, Agra, and Mathura. Additionally, the plots are in close proximity to the proposed Film City, the Eastern Peripheral Expressway (EPE), and the upcoming Noida International Airport, adding to their appeal.
Plot Sizes and Pricing
The plots are available in seven different sizes, catering to a range of preferences and budgets. Smaller plots measure 120 and 200 square meters, while larger options range from 500 to 4,000 square meters. The scheme includes a mix of sizes, with the number of plots varying for each size category. The price of the plots is set at Rs 25,900 per square meter. This translates to approximately Rs 31.08 lakh for a 120-square-meter plot, Rs 41.95 lakh for a 162-square-meter plot, Rs 51.8 lakh for a 200-square-meter plot, Rs 77.7 lakh for a 300-square-meter plot, and Rs 1.29 crore for a 500-square-meter plot. Larger plots, measuring 1,000 and 4,000 square meters, respectively, are priced around Rs 2.59 crore and Rs 10.36 crore, excluding applicable taxes and preferred location charges. YEIDA expects to generate a total revenue of Rs 343.04 crore from this scheme.
Application and Allotment Process
Interested individuals can apply for the scheme until August 5, 2024. The application form and brochure can be downloaded from the YEIDA website (http://www.yamunaexpresswayauthority.com) for a fee of Rs 600. The allotment of plots will be determined through a lucky draw scheduled for September 20, 2024.
Payment Options
YEIDA offers three convenient payment options for successful allottees. The first option requires full upfront payment of the premium, including the registration fee, within 60 days of the allotment letter's issuance. The second option allows allottees to pay 50% of the premium upfront, with the remaining 50% payable in two equal half-yearly installments. Under the third option, allottees can pay 30% of the premium upfront and divide the remaining 70% into ten equal half-yearly installments. The second and third options carry an annual interest rate of 10%, calculated starting from the 61st day after the allotment date.
Previous Scheme Success
YEIDA's previous residential plot scheme, conducted in October 2023, received an overwhelming response with approximately 1.4 lakh applications for 1,184 plots located in sectors 16, 17, and 20. The high demand reflected the growing interest in the area, driven by the upcoming Noida International Airport.