Yamuna Expressway Authority to Launch 2,000 Residential Plots Near Noida Airport During Navratri

The Yamuna Expressway Industrial Development Authority (YEIDA) is set to roll out a new residential plot scheme in the festive season of Navratri, aimed at offering around 2,000 plots near the Noida International Airport. This move comes on the heels of a positive reception to previous schemes and seeks to cater to the growing demand for affordable residential options in the region.

Details of the New Scheme

The upcoming scheme will focus on smaller residential plots, appealing primarily to the mid-income group. The plots are expected to range in size from 120 square meters (sq m) to 162 sq m, providing options for a variety of potential buyers. According to Arun Vir Singh, CEO of YEIDA, the decision to introduce this new scheme is driven by the success of earlier plot offerings and the high number of interested individuals who were unable to secure plots in those schemes.

The allocation of these plots will be conducted through a lucky draw system, a method that has been used previously to ensure a fair distribution of properties among interested buyers. The plots will be located in sectors adjacent to the Noida International Airport, a strategic area that is likely to attract significant interest due to its proximity to this major infrastructure project.

Pricing and Financial Details

The allotment rate for the new residential plots is expected to be approximately Rs 25,900 per square meter. This rate translates into a cost of around Rs 31.08 lakh for the smallest plot size of 120 sq m and about Rs 41.95 lakh for the larger 162 sq m plots. This pricing strategy aims to make the plots accessible to a wider range of buyers while reflecting the premium associated with their location near the airport.

The pricing structure is designed to appeal to the mid-income demographic, offering a balance between affordability and investment potential. The plots' proximity to the airport, a significant development in the region, adds to their attractiveness and potential value appreciation over time.

Previous Schemes and Market Response

YEIDA has been active in launching residential plot schemes in recent months. In July 2024, the authority introduced a scheme for 361 residential plots across sectors 16, 18, 20, and 22D. The allotment process for these plots is scheduled to be conducted via a lucky draw on October 10, 2024. The previous scheme received considerable interest, with over 2.4 lakh people registering for just 1,184 plots. This high level of interest underscores the growing demand for residential properties in the YEIDA region.

The new scheme will build on this momentum by offering additional options to prospective buyers. With the upcoming launch, YEIDA aims to address the demand and provide more opportunities for individuals looking to invest in residential real estate near Noida.

Strategic Importance of the Location

The location of the new plots near the Noida International Airport is strategically significant. The airport project is expected to enhance the region's connectivity and infrastructure, making it a prime area for residential and commercial development. The proximity to the airport is likely to boost the attractiveness of the plots, offering residents convenient access to air travel and contributing to the area's overall development.

The area around the airport is also anticipated to experience increased economic activity, further driving demand for residential properties. This anticipated growth makes the plots an appealing option for both end-users and investors looking to capitalize on future developments in the region.

Future Prospects and Expectations

The launch of the 2,000 residential plots during Navratri reflects YEIDA's commitment to meeting the growing housing demand in the Noida region. By offering a range of plot sizes and maintaining a transparent allocation process, the authority aims to ensure that the scheme is accessible to a broad spectrum of buyers.

As the Noida International Airport project progresses, the surrounding areas are expected to see continued development and appreciation in property values. Investors and potential homeowners alike may find this an opportune time to secure plots in the region, given the anticipated growth and infrastructure improvements.

YEIDA’s ongoing efforts to address housing demand through various schemes underscore its role in shaping the real estate landscape in and around Noida. With the new plot scheme launching during the Navratri festival, the authority is poised to further contribute to the region’s development and provide valuable opportunities for prospective buyers.