The Yamuna Expressway Industrial Development Authority (YEIDA) is set to launch a new residential plot scheme featuring around 2,000 plots near the upcoming Noida International Airport, as part of its latest festive offering. This initiative will be launched during Navratri, aiming to provide affordable housing options for mid-income buyers.
This launch follows a series of successful schemes rolled out by the authority earlier in 2024, which saw a favorable response from potential homeowners. As the Noida region continues to develop, especially with the construction of the international airport, demand for residential plots in this area is expected to surge.
Scheme Details
YEIDA CEO Arun Vir Singh confirmed that the new scheme is part of a larger plan to release 4,000 residential plots across various sectors. The upcoming scheme, focusing on smaller plots, will target mid-income groups and offer plot sizes ranging between 120 square metres (sq m) and 162 sq m.
Singh remarked, “Our previous schemes received an overwhelming response, but many potential buyers couldn’t secure a plot. With this new offering, we aim to meet the demand for affordable residential spaces near the Noida International Airport.”
The residential plots will be located in sectors close to the Noida airport, enhancing their value due to the proximity to this major infrastructure project. The scheme will be registered with the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) to ensure transparency and compliance with regulations.
Pricing and Allotment Process
The price of these residential plots is likely to be set at Rs 25,900 per sq m. At this rate, a 120 sq m plot would be priced around Rs 31.08 lakh, while a 162 sq m plot could cost approximately Rs 41.95 lakh.
The plots will be allotted through a lucky draw, a common practice to ensure fairness in the distribution of plots when demand exceeds supply. The authority anticipates a strong interest from buyers, especially given the positive response to past schemes.
Successful Past Initiatives
In July 2024, YEIDA had launched a scheme for 361 residential plots in sectors 16, 18, 20, and 22D, which received substantial attention from homebuyers. The lucky draw for these plots is scheduled for October 10, 2024.
Earlier in the year, another scheme for 1,184 residential plots saw over 2.4 lakh registrations, underscoring the massive demand for real estate in the region. The strategic location, paired with ongoing infrastructure development, makes these residential plots a highly sought-after investment.
Conclusion
As Noida rapidly grows into a major real estate hub, the launch of residential plot schemes like this is a timely opportunity for buyers looking to invest near one of India’s most anticipated airport projects. With affordable pricing, favorable plot sizes, and proximity to key developments, YEIDA’s new offering is expected to see strong participation during Navratri.
