YEIDA to launch two residential plot schemes near Noida airport in October

The Yamuna Expressway Industrial Development Authority (YEIDA) plans to launch two new residential plot schemes near Noida International Airport during Navratri in October, according to The Times of India.

Both schemes will be located in Sector 5-A, close to the airport. One will be aimed at the low-income group and offer plots measuring 40 square metres. The second will be open to the general public, with plot sizes ranging from 162 sq m to 300 sq m, TOI reported.

YEIDA has not yet announced the total number of plots under either scheme. The authority is still working out the finer details, according to Shailendra Bhatia, additional CEO of YEIDA. The number of plots and other particulars will be announced later.

There will also be an eligibility restriction. Anyone who has already received a residential plot under an earlier scheme of the Noida Authority, Greater Noida Authority or YEIDA itself will not be allowed to apply for the new schemes, TOI reported.

The current allotment rate for residential plots in the Yamuna Authority area is ₹36,260 per square metre, according to TOI. However, the final pricing and other terms for the two new schemes have not yet been announced.

Strong demand for YEIDA plots

The proposed schemes follow a strong response to YEIDA's previous residential plot offering near the airport.

In June, the authority allotted 973 residential plots through a draw of lots. The scheme, announced in April, received 110,034 valid applications, according to Hindustan Times — more than 113 applications for every plot.

The Times of India also reported that the earlier scheme attracted more than 1.1 lakh valid applications for the 973 plots.

The latest schemes come after commercial flight operations began at Noida International Airport on June 15. The airport's cargo terminal began operations two days later, according to TOI.

For prospective applicants, the October launch will offer another opportunity to acquire residential plots in the YEIDA area near the airport. But until the authority releases the scheme details, the number of plots, final pricing and application conditions remain unknown.

Sources

https://timesofindia.indiatimes.com/real-estate/news/yeida-to-launch-2-residential-plot-schemes-near-noida-airport-during-navratri/articleshow/133116066.cms

https://m.economictimes.com/news/india/two-new-yeida-plot-schemes-launching-near-noida-airport-price-eligibility-and-application-date-here/articleshow/133152903.cms