The land allotment scheme, which will conclude with a lottery draw scheduled for December 27, offers various plot sizes.
The rapid pace of development in Greater Noida, particularly around the upcoming Jewar International Airport, has sparked an unprecedented demand for land in the region. On October 31, Yamuna Expressway Industrial Development Authority (YEIDA), also known as Yamuna Vikas Pradhikaran, launched a highly anticipated land allotment scheme for plots near the airport. The scheme, which was unveiled on the occasion of Diwali, witnessed an overwhelming response from prospective buyers.
As of now, 34,180 applicants have paid the registration fee and submitted their forms to secure one of the 451 available plots in the region. With the deadline for applications set for November 30, the authority has already collected a staggering Rs 1,493 crore in registration fees alone, before even selling a single plot. This amount marks a remarkable financial boost for YEIDA.
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Overview of the Scheme
The land allotment scheme, which will conclude with a lottery draw scheduled for December 27, offers various plot sizes, ranging from 120 to 260 square metres. The distribution is as follows:
- 120 Square Metre Plots: A total of 100 plots are available. To date, 12,702 individuals have purchased application forms, and 6,987 of them have paid the registration fee.
- 162 Square Metre Plots: A total of 169 plots are up for grabs. As of now, 18,963 people have bought forms, with 10,774 of them submitting the forms along with the required fee.
- 200 Square Metre Plots: The scheme includes 172 plots of this size. A significant 26,321 individuals have shown interest by purchasing application forms, with 15,347 applicants completing the process by submitting their forms and fees.
- 250 Square Metre Plots: Only 6 plots of this size are available, yet 1,070 individuals have purchased the application forms, and 625 have paid the registration fee.
- 260 Square Metre Plots: A total of 4 plots are available in this category, and despite the limited number, 810 individuals have purchased forms, with 447 completing the registration process.
Massive Demand in Growing Region
The enormous response to this scheme reflects the growing interest in land around the Jewar Airport, which is set to become one of the largest aviation hubs in the country. The region’s infrastructure development, coupled with the promise of improved connectivity and increased economic activity, has made it a hotbed for real estate speculation and investment.
The success of the land scheme is not just an indicator of the demand for plots but also highlights the increasing confidence in the region’s future prospects. The authority’s decision to launch the scheme has not only attracted local residents but also investors from across the state and even from outside Uttar Pradesh.
Financial Windfall for YEIDA
The Rs 1,493 crore collected by YEIDA through the registration fees represents a substantial financial gain for the authority, which will help fund further infrastructure development in the region. The funds are expected to contribute towards the creation of basic amenities, roads, and utilities, ensuring that the land becomes fully usable once allotted.
The high registration fees and the number of applicants reflect the attractiveness of the region and the increasing demand for land, as many look to capitalise on the opportunities created by the Jewar Airport project. The massive financial inflow could also signal further investment and development opportunities for both the government and private entities in the area.
Future Prospects
With the deadline for applications approaching, the final number of applicants is expected to grow even further, as interest in land near the airport continues to rise. The draw on December 27 will determine the lucky individuals who will be awarded the coveted plots.
This land allotment scheme has clearly positioned the Yamuna Vikas Pradhikaran as a major player in the region’s real estate boom, and the area around Jewar Airport is quickly emerging as one of the most sought-after destinations for both homebuyers and investors in Uttar Pradesh.
