The Yamuna Expressway Authority (YEIDA) has announced the revival of its group housing plots scheme, strategically located near the upcoming Noida International Airport. The authority aims to generate revenue of approximately ₹450 crore through the allotment of these plots, signaling renewed investor interest in the region’s real estate market.
The Yamuna Expressway Industrial Development Authority (YEIDA) is a government body established to oversee the organized development of areas falling within its jurisdiction, particularly around the Yamuna Expressway region. Its primary objective is to ensure planned and sustainable growth while preventing unauthorized urban expansion and illegal land occupation.
YEIDA plays a crucial role in facilitating infrastructure development, industrial growth, and residential projects in its designated areas. It implements various schemes and initiatives aimed at promoting economic activities, attracting investments, and enhancing connectivity through projects like the Yamuna Expressway itself, which connects Greater Noida, Mathura, and Agra.
This initiative marks the return of the group housing scheme after nearly a decade, having initially launched back in 2014 with allotments to various group housing societies. Despite a similar scheme rolled out last year, no offers were received, prompting YEIDA to reintroduce the scheme now, given the heightened appeal due to the proximity of the Noida International Airport.
The group housing scheme, scheduled for availability on May 20th, includes six plots located in Sector 22D and along the Yamuna Expressway. These locations offer easy accessibility, linking Greater Noida, Mathura, and Agra, enhancing the appeal for potential homebuyers and investors alike. Moreover, with the proposed film city also in close proximity, the area holds promising prospects for development and investment.
YEIDA has categorized the housing plots to cater to diverse buyer requirements, with sizes ranging from 20,000 sqm to a substantial 40,000 sqm. The pricing of these plots varies accordingly, with YEIDA announcing rates between ₹61.5 crore and ₹135.3 crore. Prospective buyers are required to pay a registration fee or earnest money deposit (EMD), which amounts to 10% of the plot’s cost, ranging from ₹6.15 crore to ₹13.53 crore.
The e-auction for these group housing plots is scheduled for June 10th, creating an opportunity for investors and homebuyers to acquire prime real estate in a rapidly developing area. The combination of strategic location, connectivity, and planned infrastructure projects makes these plots an attractive investment proposition in the burgeoning Noida region.
As the real estate market in Noida continues to evolve, initiatives like the group housing plots scheme by YEIDA contribute to the region’s growth trajectory, offering valuable opportunities for both investors and residents seeking quality housing options. The upcoming auction is anticipated to draw significant interest, reflecting the positive sentiment and confidence in the area’s real estate market.