A residential plots scheme initiated by the Yamuna Expressway Authority (YEIDA) has garnered substantial attention, with more than 100,000 people registering for the opportunity. The scheme, which presents a chance to acquire one of the 1,184 residential plots available across three sectors managed by YEIDA, was launched on August 8 and is scheduled to conclude on September 1. Officials have noted the remarkable response to the initiative, with over 66,500 application forms sold and approximately 29,000 individuals having already deposited earnest money to secure plots as of Friday.
The Residential Scheme Details
Spanning three sectors – Sector 16, 17, and 20 – situated along the Yamuna Expressway, the scheme offers a variety of residential plots. The selection process for these plots will be determined through a lucky draw scheduled for October 18, 2023. The YEIDA officials have expressed their satisfaction with the enthusiasm surrounding the scheme, highlighting the strong demand that the initiative has generated.
Optimistic CEO’s Perspective
Arun Vir Singh, the CEO of YEIDA, remarked on the scheme’s popularity, mentioning that nearly 108,000 individuals had already registered for the scheme as of Friday, with the numbers continuing to grow. He provided insight into the application statistics, stating that 66,518 application forms had been purchased, out of which 54,097 applications had been successfully submitted. Notably, 28,989 applicants had also deposited their earnest money by Friday to secure their plots. Singh conveyed his anticipation of further increases in these figures in the coming days.
Strategic Location and Future Prospects
The offered plots are strategically situated in proximity to both the Yamuna Expressway and Jewar Airport, indicating the potential for rapid regional development in the foreseeable future. Singh elaborated on the attractiveness of the investment opportunity, citing forthcoming projects such as the Film City, industrial parks, medical device parks, textile parks, and improved connectivity with Noida and Greater Noida. These factors collectively contribute to making the region increasingly favorable for prospective investors.
Variety in Size and Pricing
Under the scheme, YEIDA is offering residential plots at a rate of Rs 24,600 per square meter (sq m). The available plots come in seven different sizes, ranging from 120 sq m to 2,000 sq m. The distribution includes 194 plots in the 120 sq m category, 260 plots in the 162 sq m category, and 466 plots in the 200 sq m category. Moreover, there are 208 plots available in the 300 sq m category, 24 plots in the 500 sq m category, 13 plots in the 1,000 sq m category, and 19 plots in the 2,000 sq m category, as outlined in the scheme document.
As the September 1 deadline approaches, the fervor around YEIDA’s residential plots scheme continues to gain momentum, underscoring the widespread interest in the real estate opportunity.