NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) is set to launch a residential scheme near Noida International Airport (NIA) on Monday, offering 973 plots.
Officials announced that 17.5% of the plots will be allocated to farmers whose land has been acquired for the development of the Yamuna area and the airport. Additionally, 5% will be reserved for businessmen with functional industrial units in the Authority area. The land rate is set at Rs 36,260 per square meter, and plots, located in sectors 15-C, 18, and 24, will be allocated via a draw.
The project launches shortly after the airport’s inauguration by Prime Minister Narendra Modi on March 28 and has received approval from UP RERA. Registrations will begin on Monday through the Authority’s website, yamunaexpresswayauthority.com.
Yamuna Authority CEO RK Singh stated that this scheme is designed to meet the increasing demand for residential plots near the airport, with plans for two additional residential schemes within the next three to four months.
The plot allotments will be on a lease basis for 90 years from the lease deed’s date. Applications will be accepted until May 6, while the draw will take place on June 18.
This residential plot scheme highlights the rapid urban development in the region. As flight operations commence soon, the demand for housing among professionals, investors, and businesses is anticipated to rise.
The plots will be available in various sizes: 162 sqm (476 plots), 183 sqm (4 plots), 184 sqm (4 plots), 200 sqm (481 plots), 223 sqm (6 plots), and 290 sqm (2 plots).
According to the Authority, plots facing parks and green-belt areas will incur an additional 5% premium, while corner plots will also carry a 5% premium charge.
Applicants must provide 10% of the premium as a registration fee. Successful applicants will have this registration fee adjusted against the payable premium for their plot, and it will be refunded to unsuccessful applicants.
As per the scheme, 100% of the total premium must be paid within 60 days of receiving the allotment letter. However, this payment period can be extended by a maximum of 30 days under certain conditions.
The scheme demonstrates strategic planning to accommodate future population growth and enhance real estate activity, signifying confidence in the airport-led development model and positioning the Yamuna region as a significant growth corridor in the National Capital Region.
