YEIDA’s residential plot scheme to boost Yamuna Expressway’s potential
The recent announcement by the Yamuna Expressway Industrial Development Authority (YEIDA) to sell around 6,500 plots (6000 smaller plots and 500 bigger plots) in the region will add yet another wing to the region’s growth. These plots will range from the smallest, that is, 30 square metres (sq m), to large and very large residential plots between 200 sq m and 4,000 sq m. The plots will be allotted in three sectors located near the upcoming Noida International Airport at Jewar.
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Commenting on the same, Manoj Gaur, President-CREDAI NCR and CMD-Gaurs Group, said, “This will indeed boost Yamuna Expressway’s potential. As the proposed scheme will bring more people to live in the region, it will add a new thrust to the Yamuna Expressway potential. The valuation of properties at Yamuna Expressway has already risen sharply since the announcement of the international airport. In the last two years, the prices have risen by 30-40%, and reputed developers have residential and commercial projects here. Besides, the holistic infrastructure is already in place in the region. This announcement also showcases the state government’s commitment to develop an international city in the region.”
Yamuna Expressway is located between Delhi, Noida, and Greater Noida on one side and Agra, Mathura, and Aligarh on the other. It also offers seamless connectivity to Faridabad and is adjacent to the Eastern Peripheral Expressway. This announcement by YEIDA comes on the heels of its successful residential plots scheme last year. The project is expected to be launched in June-July this year.
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“Yamuna Expressway is turning into a global city. The announcement by the Authority to launch plots will further enhance its appeal. This also reflects the government’s commitment to a large number of people from different income groups living in the region. Further, this announcement will also add a thrust to housing growth and a rise in construction activities,” said Neeraj Sharma, MD, Escon Infra Realtor.
“Developed from scratch, Yamuna Expressway has been envisioned as a self-contained city with Jewar International Airport and Yamuna Expressway as its centrepiece. It is a city of the future, a self-contained region offering modern amenities and an integrated lifestyle. Almost every prominent developer has a project here. Customer interest is growing, and the price is steadily rising. It’s an ideal location for end users and has consistently delivered significant returns on investment,” said Pawan Sharma, MD, Trisol RED.
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The total number of plots will be 6,500, of which 6000 will fall in the affordable housing plots category, while around 500 additional plots in the large category will also be offered. These plots will be launched in sectors close to the upcoming Noida airport, such as sectors 17, 18 and 20. The pricing of the 30 sq m plot is likely to be around Rs 7.5 lakh to Rs 8 lakh.
The Central and UP governments are also keenly allocating resources to make the Yamuna Expressway an international hub. The Yamuna Expressway Authority plans to develop over 6,000 hectares of land for two hi-tech cities: an industrial township, a heritage city, an aero hub, a film city, and an apparel hub.
“Yamuna Expressway is not just another integrated city. It is a whole new concept carrying forward the idea already implemented in Greater Noida. Not only does the city promise a pollution-free environment, modern necessities, and spacious surroundings, but with the world-class corporate, institutional and industrial infrastructure,” said Salil Kumar, Director (Sales & Marketing), CRC Group.
The region has some distinctive hubs, including Film City, Apparel Hub, Aero City, MSME Hub, Hotel & Hospitality Hubs, Institutional Area, and Corporate Hubs. However, the residential sector has outpaced other developments in the region, with leading real estate companies announcing their residential and commercial projects in the area. Yamuna Expressway will also emerge as a major employment hub, increasing the value of properties and driving rental income.
