170,000 Register for Plots Near Noida International Airport

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    In a remarkable display of interest, over 170,000 individuals have registered within the span of just three weeks for the opportunity to secure one of the 1,184 residential plots offered by the Yamuna Expressway Industrial Development Authority (YEIDA). This initiative aims to allocate plots for independent houses adjacent to the forthcoming Noida International Airport, with many eager to seize what is perceived as a lucrative real estate opportunity.

    As of Wednesday evening, the dedicated online portal recorded a staggering 1.73 lakh users registering their interest, out of which 1.23 lakh users have purchased application forms online. Impressively, 1.1 lakh applications have already been submitted, and a total of 78,290 applicants have taken a step further by submitting 10% earnest money. With the application deadline set to conclude on Friday night, the enthusiasm surrounding the scheme remains palpable.

    The residential plots available for allocation encompass seven distinct sizes, ranging from 120 to 2,000 square meters, situated across Sectors 16, 17, and 20. The largest category comprises 466 plots, each measuring 200 square meters, followed closely by 260 plots measuring 162 square meters each.

    The unique scheme, launched on August 8, offers just 19 plots of the grandest size, spanning 2,000 square meters. These plots are priced at Rs 24,600 per square meter. A draw of lots is scheduled for October 18 to determine the fortunate beneficiaries. Those who have already paid the earnest money will be accorded preference during this selection process.

    YEIDA CEO Arun Vir Singh expressed his enthusiasm about the unprecedented response to this residential plot scheme, underlining the fact that YEIDA has never before witnessed such a surge in applications. Singh attributed this interest to the Noida airport’s ongoing construction, which has spurred curiosity and investment.

    The momentum gained by plot schemes along the Yamuna Expressway, initiated by YEIDA, coincided with the accelerated progress of the Noida airport last year. In October, YEIDA garnered over 64,000 applications for 477 residential plots spanning five sectors. Until 2021, investment sentiment toward housing plots remained lukewarm. For instance, in 2018, YEIDA received 19,716 applications for 418 plots, a number that further dwindled to a mere 3,614 applications for 971 plots in 2020. Distance from Noida and limited infrastructure development were perceived as dampening factors. However, with the airport now positioned as the focal point of the ecosystem, these concerns have been relegated to the background.

    Authorities point out that the airport isn’t the sole magnet for interest; the interlinked infrastructure projects, such as the Apparel, Toy, and Medical Device parks, alongside the proposed Film City, have also ignited enthusiasm within the residential sectors adjacent to the expressway.

    Also Read: YEIDA’s Residential Scheme Attracts 100,000+ Registrations for Plots

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