The Yamuna Expressway Industrial Development Authority (YEIDA) has launched a housing scheme offering at least 1,200 flats in Sector 22D along the Yamuna Expressway on a “first come, first served” basis, said authority officials.
The scheme will remain active till March 31, 2025, or until all units are allotted, they said.
All about the YEIDA housing scheme
The scheme offers three types of flats in the affordable category near the Noida international airport, which is slated to become operational by next April, said officials.
The one-bedroom units, with a total area of 29.76 square metres and a usable living space of 21.62 square metres, cost ₹23.37 lakh on the ground floor and ₹20.72 lakh on the first, second, and third floors.
Allotment on first-come-first-serve basis
“We will allot these flats on a ‘first come first served’ basis to applicants who will pay the money and buy the unit. These flats were left out in old schemes. But, this time, we hope that people will rush to grab these flats that are located along the Yamuna Expressway because of the upcoming airport project near Jewar,” said Arun Vir Singh, chief executive officer, Yeida.
There are 276 flats available in this category.
The second option is the one-bedroom flats in four-storey buildings with a total area of 54.75 square metres and a living space of 36.97 square metres. The price of the flat is ₹33.05 lakh, and there are 713 flats available. There are also two-bedroom flats in multi-storey towers, with a total area of 99.86 square metres and a living space of 64.72 square metres. These will cost ₹45.09 lakh, and there are 250 flats available in buildings of up to 16 floors.
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How to apply for the YEIDA housing scheme?
To apply for the scheme, interested individuals should submit an online application through the Yamuna Expressway authority website, pay a non-refundable registration fee of ₹600, and an earnest money deposit (EMD) of 10% of the total premium of the selected flat. Eligible applicants must be Indian citizens above 18 years of age and have not been allotted any other flats or plots by Yeida in the past. Joint applications with immediate family members are allowed, said officials.
Payment modalities
Yeida said an applicant can pay the total amount of the flat at one go and get 2% discount or pay 10% to apply, 20% in the next 30 days, and remaining 70% over five years. The authority will impose 10% interest on the remaining 70% flat cost, said officials.
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Will Yeida maintain the flats?
Yeida will provide maintenance for a two-year period following possession, after which an apartment owners association (AOA) will be formed to take over the responsibility of managing the complex.
Allottees are required to contribute to a maintenance corpus fund, and the amounts will range from ₹50,000 for affordable one-bedroom flats,and ₹1.5 lakh for two-bedroom units. Participation in the AOA is mandatory for all allottees, said Yeida.
