In a move reflecting the growing demand in the real estate market, the Yamuna Expressway Industrial Development Authority (YEIDA) is gearing up to establish a new residential sector in close proximity to the upcoming Noida International Airport. Reliable sources indicate that this upcoming residential sector is likely to be designated as Sector 5, strategically located near the proposed airport.
The YEIDA is in the process of formulating a proposal to acquire approximately 1,100 hectares of land for this purpose, with plans to submit it to the district administration in the near future. The land department of the authority has received instructions to initiate the necessary preparations.
According to insiders, the land acquisition process for the envisaged 1,100 hectares is expected to commence shortly and aims for completion by December 2023 or January 2024. Following the handover of the acquired land to the authority, the development of the residential sector will commence, featuring both residential plots and group housing societies.
The proposed name for the new residential sector is Sector 5, positioned in close proximity to the Noida International Airport. The sources further reveal that 50 percent of the acquired land is earmarked for a scheme encompassing 2,000 residential plots, slated for launch in January-February 2024. The remaining land will be dedicated to the development of group housing societies.
Anticipating a surge in public interest, akin to the response witnessed in YEIDA’s previous residential plots scheme introduced in 2023, the new Sector 5’s appeal is expected to be heightened due to its adjacency to the new airport and its convenient connection to the Yamuna Expressway, linking Greater Noida with Agra.
In a bid to enhance connectivity, YEIDA has devised plans to establish a direct link between the Yamuna Expressway and Chola Railway Station in Bulandshahr district through the newly proposed sector. The proposed modifications related to the inclusion of the residential sector will be seamlessly integrated into the Master Plan 2041 before being submitted to the state government for final approval, as per the sources.
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