In the wake of the resounding success of its recent residential plot scheme, the Yamuna Expressway Industrial Development Authority (YEIDA) is gearing up to introduce a similar offering in early 2024, according to officials. The newly proposed scheme is expected to include over 2,000 residential plots of varying sizes, strategically situated in proximity to the upcoming Noida International Airport.
While the specific sectors for these plots have yet to be determined, this move comes after a staggering 1.4 lakh people applied for the 1,184 residential plots offered in YEIDA sectors 16, 17, and 20 during a draw held on October 18. Arun Vir Singh, Chief Executive Officer of YEIDA, noted the strong demand for residential plots and the overwhelming response to their recent residential plot scheme as a driving force behind the decision to launch another scheme early next year.
“This shows people would want to build their houses and live near the upcoming Jewar airport. So, witnessing the demand, the authority will soon launch a residential scheme early next year in January-February 2024. Preparations for this have also started,” Singh said.
In the previous scheme, the authority held a draw on October 18 for 1,184 residential plots in three different sectors, YEIDA sectors 16, 17, and 20, along the Yamuna Expressway. The substantial interest generated by this scheme has spurred the YEIDA to expedite its plans for another residential plot scheme, aiming to capitalize on the increasing demand for such properties.
An official within the authority explained that the land acquisition process for the forthcoming residential plots is still underway. “The land department of the authority has been instructed to acquire land for residential plots. As soon as the land is with the authority, a new housing scheme will be rolled out,” he stated.
It is anticipated that the land acquisition process will be completed by December-end, making land available for the upcoming scheme in January 2024. With the real estate market heating up and the prospect of living near the future Noida International Airport becoming increasingly appealing, the YEIDA’s decision to release 2,000 more residential plots is expected to garner significant attention and interest from prospective buyers.
As preparations for the new scheme continue, all eyes are on the anticipated launch in early 2024, which is poised to offer exciting opportunities for property seekers in the region.
