This is a great opportunity to buy a plot on Yamuna Expressway. E-auction of YIDA plots is going to be held on 30th September.
YEIDA Plots: If you are thinking of buying a house near Noida Airport, then Yamuna Expressway Industrial Development Authority (YEIDA) is bringing a special opportunity for you. YEIDA has decided to auction 19 group housing plots near Noida Airport. This move has come at a time when the demand for houses is not being met due to lack of land in Noida and Greater Noida. The scheme started on August 1, 2024 and will continue till August 30, 2024. The e-auction of these plots will be held on September 30, in which the authority hopes to raise around Rs 1,407 crore.
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You can get a house near the airport
All these group housing plots are located in Sectors 17, 18, and 22D along the Yamuna Expressway. These areas are well connected to the Noida International Airport as well as historical cities like Agra and Mathura. The demand for residential schemes in this area is increasing rapidly, especially due to its proximity to the airport.
Plot sizes and prices
The size of the plots on which group housing is to be built ranges from 2.5 acres to 12 acres. The smallest plot is 11,513 square metres and the largest plot is 48,585 square metres. The reserve prices of the plots have been fixed from Rs 32,375 per square metre to Rs 35,612 per square metre. These prices vary according to the area and location. Houses can be found in multi-storey buildings on these plots.
This is how these plots will be auctioned
All these plots will be allotted through e-auction, which will be held on September 30. There is a plan to build around 25,000 apartments under the scheme, which includes both affordable and luxury segments. These apartments will not only be closest to the airport, but can also prove to be a significant opportunity for investors.
This is how the builder will make the payment
Applicants have to deposit 10% of the reserve price of the plot as earnest money deposit (EMD). Successful bidders have to pay 40% of the total price within 60 days of receiving the allotment letter, while the remaining 60% amount has to be paid in 10 half-yearly installments over five years.
Growing interest in real estate
This scheme of group housing plots on Yamuna Expressway near Noida International Airport has become a major attraction in the real estate sector. Recently, real estate companies like Eldeco and Purvanchal Projects have also bought plots here. Gaur Group’s Yamuna City is already developed near Yamuna Expressway. This can be a golden opportunity for investors and developers considering the immense potential for future development in the area around the airport.
Positive attitude of builders
Builders have also welcomed this initiative of YIDA. Manoj Gaur, CMD of Gaur Group and President of CREDAI NCR, says that there is a huge gap between the demand and supply of houses due to lack of land in Noida and Greater Noida. He said, “These new plots will help in meeting this shortage. Even though the demand for 2 BHK flats is low right now and the trend of bigger apartments is increasing, this development may lead to a slight increase in prices. In this way, this auction can not only give a new direction to the real estate market, but can also prove to be helpful in the development of the entire area.
Industrial corridor, new opportunities for real estate
An industrial corridor is also being built in this area, so that more and more people can come and settle in this area. On this, County Group Director Amit Modi said that the industrial corridor will bring a big change to this area, which will increase the demand for both cheap and expensive houses. Earlier, YIDA had allotted two group housing plots to Purvanchal Projects and Eldeco Infrastructure and Properties in Sector 22D, which generated revenue of about Rs 250 crore.
Demand for homes will increase with the construction of corporate offices
Sanjay Sharma, Director of SKA Group, said that the development of nine group housing societies near Noida Airport and Yamuna Expressway will definitely provide better accommodation to the people. The demand for residential property will also increase due to the construction of planned industries and corporate offices here. On the other hand, Yash Miglani, MD of Migson Group, says that these schemes will also provide better space for construction for the real estate sector. Being close to the airport and expressway, people will get better options not only for housing but also for investment.
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Tags: Greater Noida News, noida news, Property, Yamuna Authority, Yamuna Expressway
FIRST PUBLISHED : August 9, 2024, 18:19 IST
