Buoyed by the success of its residential plots scheme last year, the Yamuna Expressway Industrial Development Authority (YEIDA) has again put on sale over 350 residential plots in four different sectors near upcoming Noida International Airport, officials aware of the matter said.
Under the scheme, the Authority is offering around 361 plots of seven different sizes. The registrations for the plot scheme will close on August 5. The plots will be allotted through lucky draw in September.
“With the Noida airport in Jewar likely to start operations soon, there has been an uptick in demand in all segments be it residential, industrial or commercial. People want to invest and live near the airport as the region is developing fast. So to capitalise on these factors, the Authority has launched a scheme of residential plots. The registrations for the scheme have already begun and the last date to apply for the scheme is August 5,” YEIDA CEO Arun Vir Singh said.
Earlier in October 2023, YEIDA had 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.
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Here are five things to know about:
Number of plots and location
According to the scheme document, these 361 plots are located in four different sectors including sectors 16, 18, 20 and 22D. These plots are located adjacent to Yamuna Expressway that connects Greater Noida with heritage towns of Agra and Mathura. These plots are in proximity to Eastern Peripheral Expressway (EPE), the proposed Film City, and the upcoming Noida International Airport.
Sizes
The plots have been offered in seven different categories in the residential plots scheme. The scheme includes mid-size residential plots measuring 120 square metres (sq m) and 200 sq m along with larger residential plots measuring between 500 sq m and 4,000 sq m. The YEIDA is offering 84 plots of 200 sq m, 77 plots of 162 sq m, three plots of 200 sq m, 40 plots of 500 sq m, 18 plots of 1000 sq m and eight plots of 4000 sq m. The scheme offers highest 131 residential plots in 300 sq m category.
Prices
These residential plots will be allotted at a rate of Rs 25,900 per square metre, the scheme document said. The smallest 120 sq m plot will cost Rs 31.08 lakh, the 162 sq m plot will cost around Rs 41.95 lakh. The mid-size plots having an area of 200 sq m, 300 sq m, and 500 sq m will cost around Rs 51.8 lakh, Rs 77.7 lakh and Rs 1.29 crore respectively.
Similarly, the large sized plots of 1000 and 4000 sqm will cost around Rs 2.59 crore and Rs 10.36 crore respectively excluding preferred location charges and taxes, the document showed. The Yamuna Expressway Authority aims to collect a revenue of Rs 343.04 crore from the allotment of these residential plots.
How will these plots be allotted?
According to officials, these residential plots will be allotted through a lucky draw, which will be organised on September 20, 2024. Interested applicants can download the application form and brochure from the Authority’s website www.yamunaexpresswayauthority.com by paying a fee of Rs 600.
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Payment plans
Officials said that to make the payment easy for successful allottees, the Authority has introduced three payment plans. The option one include 100 percent upfront payment of the total premium (including registration fee) within 60 days from the date of issue of allotment letter.
The option two include 50 percent of the total premium (including registration fee) to be paid within 60 days from the date of issue of allotment letter. Remaining 50 percent shall be payable in two equal half-yearly instalments calculated from the 61st day from the date of allotment at the rate of 10% per annum interest, YEIDA scheme document showed.
In option three allottees will have to pay 30 percent of the total premium within 60 days from the date of issue of allotment letter. Remaining 70 percent shall be payable in 10 equal half-yearly instalments calculated from the 61st day from the date of allotment with 10 percent annual interest.
