The new year brings good news for people who want to build their own home near the Noida International Airport.
The Yamuna Expressway Industrial Development Authority (YEIDA) is ready to launch a large residential plot scheme at the beginning of the new year.
This scheme will give thousands of people a chance to own land and is also expected to increase real estate activity around the airport area.
YEIDA’s First Residential Scheme in Sector 5
YEIDA is launching its first residential plot scheme in Sector 5. The land acquisition process in this sector is currently in progress, and a large part of the land has already been purchased by the authority.
Under this scheme, around 4,000 residential plots will be offered. The plots will be available in three sizes: 200 square meters, 300 square meters, and 450 square meters.
The launch of this scheme in the new year will bring relief to people who have been waiting for such an opportunity for a long time.
CEO Shares Key Details
YEIDA CEO Rakesh Kumar Singh stated that preparations for the residential plot scheme in Sector 5 are almost complete.
He also mentioned that this will be the first residential scheme near the Noida International Airport, which will improve connectivity and increase the investment value of the area.
Residential Plots Planned in Other Sectors
Apart from Sector 5, YEIDA is also planning to develop about 973 residential plots in Sectors 15C, 18, and 24A. The registration process for these projects is currently underway with UP RERA.
Once RERA approval is received, these schemes will be launched. Out of the total plots, 755 will be in the general category, with sizes ranging from 162 square meters to 290 square meters.
The highest number of plots will be in the 162 square meter (476 plots) and 200 square meter (481 plots) categories.
Strong Demand for YEIDA Residential Plots
The demand for residential plots in the YEIDA area is very high. Even when only a few hundred plots are offered, the number of applicants often reaches lakhs.
Because of this huge demand, plot schemes are a major source of income for YEIDA.
To achieve its revenue targets in the last three months of the current financial year, the authority has decided to launch both residential and industrial plot schemes. For this purpose, vacant plots are currently being identified.
One of the Biggest Schemes Since 2009
In 2009, YEIDA launched its first large residential plot scheme, under which around 21,000 plots were allotted. Since then, no scheme of such a large scale has been introduced.
Therefore, the upcoming 4,000-plot scheme in the new year is being considered the second-largest residential plot scheme launched by YEIDA since 2009.
