Yamuna Expressway Industrial Development authority to sell 6,000 residential plots near Noida airport

The Yamuna Expressway Industrial Development Authority will launch a residential plots scheme once the general elections is over, reported Moneycontrol. The authority had launched a similar scheme last year which was successful.

Under the scheme, YEIDA is planning to sell 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. As per Moneycontrol, these plots will be allotted in three sectors located near the upcoming Noida International Airport

Residential plot scheme

Moneycontrol quoted a senior YEIDA official and said that 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 told Moneycontrol.

The report further mentioned that 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. Apart from this, nearly 500 large plots of between 200 and 4,000 sq m will also be put on sale. The sales will be performed through e-auction.

Moneycontrol quoted another official and 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.

In the previous scheme, YEIDA had offered residential plots at Rs 24,600 per sq m with the price of the plots ranging between Rs 29.5 lakh to Rs 4.92 crore.

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