After the success of its residential plots scheme last year, the Yamuna Expressway Industrial Development Authority (YEIDA) will launch a similar scheme once the general election jamboree is over.
This time, under the scheme, the authority is planning to put on sale around 6,000 smaller plots measuring up to 30 square metres (sq m) in addition to larger residential plots measuring between 200 sq m and 4,000 sq m. These plots will be allotted in three sectors located near the upcoming Noida International Airport, officials aware of the matter said.
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According to a senior YEIDA official, YEIDA‘s residential plot scheme received a “very encouraging response” last year, indicating that people prefer residential plots and that proximity to the airport being built at Jewar, some 50 km from Noida, is an advantage.
“So to capitalise on the rising demand, the Yamuna Expressway authority has decided to launch a residential plots scheme in June or July after the Lok Sabha polls are over. This time we also plan to launch around 6,000 affordable housing plots measuring up to 30 sq m. These plots will be launched in sectors close to the upcoming Noida airport, such as sectors 17, 18 and 20,” the official said.
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The pricing of the 30 sq m plot is likely to be around Rs 8 lakh to Rs 10 lakh, which should be affordable for lower middle class people, he said.
He added that apart from smaller plots, nearly 500 large plots of between 200 and 4,000 sq m will also be put on sale.
All these plots will be allotted through an e-auction.
Another official of the authority said that preparations for the launch are already on and formalities regarding fixation of allotment rate, size and date of scheme are being finalised. The scheme may be launched in June or July.
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In October 2023, YEIDA held a draw for 1,184 residential plots in three sectors. As many as 1.4 lakh people had applied for the 1,184 residential plots located in YEIDA sectors 16, 17 and 20, along the Yamuna Expressway that connects Greater Noida with Agra.
In the previous scheme, the residential plots were offered in seven sizes—120, 162, 200, 300, 500, 1,000 and 2,000 sq m. YEIDA had offered residential plots at Rs 24,600 per sq m under the scheme. The price range of plots worked out to Rs 29.5 lakh to Rs 4.92 crore.
