The Yamuna Expressway Industrial Development Authority (YEIDA) is set to launch a residential scheme on Monday, located near the Noida International Airport (NIA), which will offer a total of 973 plots. According to officials, 17.5% of these plots will be allocated to farmers whose land has been acquired for the development of the Yamuna area and the NIA. Additionally, there will be a 5% reservation for business owners who operate industrial units within the Authority’s jurisdiction.
The price for the land is set at Rs 36,260 per square meter, and the allotment of plots—spanning sectors 15-C, 18, and 24—will be conducted via a draw. This project, which comes shortly after the airport’s inauguration on March 28 by Prime Minister Narendra Modi, has received approval from UP Rera.
Interested individuals will be able to register through the Authority’s official website, https://yamunaexpresswayauthority.com/, starting Monday. RK Singh, the CEO of Yamuna Authority, stated that this initiative is designed to address the increasing demand for residential plots in proximity to the airport. “We are planning to introduce two additional residential plot schemes within the next three to four months to satisfy this demand,” Singh remarked.
The allotment of plots will be on a lease basis for a duration of 90 years from the date of the lease deed. The deadline for applications is May 6, with the draw for the scheme scheduled for June 18. This residential plot scheme highlights the swift urban development in the region. With flight operations expected to commence shortly, the demand for housing is anticipated to surge among professionals, investors, and businesses.
The plots will be offered in various sizes: 162 sqm (476 plots), 183 sqm (four plots), 184 sqm (four plots), 200 sqm (481 plots), 223 sqm (six plots), and 290 sqm (two plots). As per the Authority, plots located adjacent to parks and green belts will incur an additional 5% premium, while corner plots will also attract a 5% premium.
Applicants are required to pay 10% of the premium as a registration fee. For successful applicants, this registration fee will be deducted from the total premium due for the plot. In cases where applicants are not successful, the registration fee will be refunded.
According to the scheme, the entire premium amounting to 100% must be settled within 60 days from the issuance date of the allotment letter. Nevertheless, under specific conditions, the payment deadline may be extended for an additional maximum of 30 days. The scheme demonstrates strategic foresight to manage anticipated population growth and enhance real estate development. Furthermore, it conveys assurance in the airport-driven development approach, establishing the Yamuna area as a significant growth corridor within the National Capital Region.
