The Yamuna Expressway Industrial Development Authority (YEIDA) has announced a 5.14% increase in land allotment rates across various categories surrounding the forthcoming Noida International Airport in Jewar. Effective from April 1, 2024, this decision stems from the rise in the cost inflation index, reflecting a need to adjust rates accordingly.
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According to the Magicbricks report, under the revised rates, residential allotments in YEIDA City plots will escalate from Rs 24,600 to Rs 25,900 per square meter, while group housing plots will see an increase from Rs 30,750 to Rs 32,375 per square meter. Commercial land rates are set to surge to Rs 51,800-62,200 per square meter, with industrial plot rates ranging from Rs 8,670 to 14,240 per square meter.
This adjustment in rates aligns with YEIDA‘s efforts to accommodate the burgeoning demand and growth opportunities stemming from the Noida International Airport project and other associated developments. With the region near the Yamuna Expressway emerging as a prime investment destination, the Authority deems it crucial to bolster its land bank to foster regional development.
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The report added that YEIDA’s decision to hike allotment rates follows the launch of the YEIDA Plot Scheme 2023, aimed at offering 1,184 residential plots near the Noida International Greenfield Airport (Jewar Airport). The scheme, introduced across three sectors along the expressway, invites prospective buyers to apply for plots from August 8 to September 1, 2023, with allotments conducted through a lucky draw mechanism.
Managing land along the Yamuna Expressway corridor from Greater Noida to Agra, YEIDA plays a pivotal role in facilitating strategic developments and infrastructure projects. The increase in allotment rates reflects the Authority’s proactive stance in adapting to market dynamics and ensuring sustainable growth.
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There are a total of 1,184 plots situated within the vicinity of Sector 16, 17, and 20, strategically positioned near the Yamuna Expressway, the forthcoming Noida International Airport, and the Eastern Peripheral Expressway.
