Yamuna Expressway, India – Over 240,000 prospective buyers have enthusiastically registered for a total of 1,184 residential plots under the Yamuna Expressway Industrial Development Authority’s (YEIDA) residential plot scheme, which officially concluded on September 4, 2023. The scheme, which was launched on August 8, attracted a remarkable response, with more than 1.8 lakh application forms sold and over 1.7 lakh applications successfully submitted. Additionally, a substantial 140,887 applicants have submitted earnest money deposits to secure their plot bookings. The draw of lots to allocate the plots is scheduled for October 18, 2023.
“The residential plot scheme received an outstanding response, with a total of 1.8 lakh application forms sold and over 1.7 lakh applications submitted. As of September 4, 140,887 applicants have deposited earnest money to book plots,” revealed a YEIDA official on September 12. Due to technical issues on the website, the Authority had extended the application deadline by three days to September 4.
This residential plot scheme encompassed 1,184 plots located in three YEIDA sectors, specifically Sector 16, 17, and 20, situated along the Yamuna Expressway. The allocation of these plots will be determined through a lucky draw process. As per the scheme’s terms, the booking amount (earnest money deposit) was set at 10 percent of the total plot cost, with the application fee being non-refundable.
The residential plots were available in seven distinct sizes ranging from 120 to 2,000 square meters. The pricing offered by YEIDA for these plots was Rs 24,600 per square meter, with plot prices ranging from Rs 29.5 lakh to Rs 4.92 crore.
YEIDA had provided three payment plans for the convenience of applicants. The first plan required a 10 percent booking amount at the time of application, with the remaining balance to be paid within 90 days from the date of issuance of the allotment letter. The second option involved paying 50 percent of the total premium (including the booking amount) within 90 days from the issuance of the allotment letter, followed by the remaining amount in two half-yearly EMIs, carrying an interest rate of 10 percent per annum. The third plan stipulated that 30 percent of the total premium (including the booking amount) be paid within 90 days from the issuance of the allotment letter, with the remaining 70 percent payable in 10 equal half-yearly EMIs, also subject to a 10 percent per annum interest rate.