Yamuna authority receives 20,000 applications for 550 residential plots – ET RealEstate

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The Yamuna Expressway Industrial Development Authority (Yeida) has received 20,000 applications for 550 residential plots and 4,200 applications for nearly 400 industrial plots of different categories as it pushes for development around the upcoming Noida International Airport.

The authority will allot the plots through a lucky draw and is expected to generate revenue of about Rs 1,000 crore from the sale.

Prices of the plots range from Rs 11 lakh to Rs 6.6 crore, and the highest number of applications (10,000) have been received in the 120 square metres category, in which only 117 plots are being offered.

“The number of forms suggests there is a huge demand for both residential and industrial development near the airport. The residential development is in sync with the commercial and industrial development,” said Arun Vir Singh, CEO, Yeida.

The authority has not received much response for the larger residential plots. Only six applications have been received for 11 plots of 4,000 sq metres on offer and two for 2,000 sq metres while 16 plots were on offer in this category.

“In the industrial segment, 3,851 applications have been received under the MSME (micro, small and medium enterprises) category while the rest are for the toy and furniture park. We have reserved some plots for the startup category to promote new businesses,” said Singh.

Residential plots are priced at Rs 16,500 per sq metre while the industrial plots are priced at Rs 6,500 sq metre.

Land prices around Yamuna Expressway have surged since the signing of agreement for development of the Jewar airport and approval of a film city.

Yeida has set a target of revenue of Rs 3,000 crore for 2021-22 amid a surge in demand for industrial, commercial and residential plots near the international airport.

Revenue jumped to Rs 2,200 crore in 2020-21 from Rs 1,200 crore in the previous year.

The Uttar Pradesh government is creating land banks along the Yamuna Expressway in the National Capital Region and is in talks to create a toy manufacturing hub and an MSME and apparel park near the upcoming airport.

The state government recently approved a 700-acre electronic city near the site of the airport, which is expected to give a further boost to real estate demand in Noida.



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Launched in 2009, YEIDA starts registry of residential plots now – ET RealEstate

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GREATER NOIDA: After a gap of 12 years, the Yamuna Expressway Industrial Development Authority (YEIDA) has started the process of executing registry of residential plots in sectors 18 and 20.

Launched in 2009, the pockets and blocks in the two sectors were developed over the past three years. Around 11,000 of 21,000 plots are being readied here and the registry process of more than 7,000 plots has already been initiated. The development work is in the final stages in blocks I and J of Sector 18 as well as blocks A, B, C and D in Sector 20. Work is going on in full swing in blocks R, S, T and U in Sector 20.

But a number of people who have been handed plots after registry are still struggling because of a petition in the Supreme Court. A doctor from Faridabad, who has been awarded a 1,000 sqmt plot in Block C of Sector 20, said, “The Authority has taken from us an enhanced compensation for paying the farmers. I have spent about Rs 74 lakh since 2009 as land premium and interest. However, a petition of the Yamuna Authority against a Allahabad High Court order is pending before the Supreme Court. Till that is decided, there is no way we will be able to start construction work in our block.”

Situated about 15km away from Pari Chowk ahead of Jaypee Sports City, YEIDA has facilitated about 5,500 registries in the two sectors. By March 31, the authority is targeting to execute 2,500 more.

Meanwhile, those representing the association of buyers in the Yamuna region have forwarded a six-point demand to the authority before more registries are carried out.

“The problem is that after the registry is done, an allottee is given three years to complete construction work. After that, penalties are levied for the delay. Farmer issues in C, D, R, S, T and U pockets of Sector 20 are yet to be settled and no construction work can take place till the issues are resolved,” said Safal Suri, a member of the association.

Arun Vir Singh, chief executive officer of YEIDA, said the outcome of the petition was awaited. “But we will soon hold camps to sort out the problems in certain blocks and facilitate physical possession to allottees. We want people to settle down in the Yamuna region at the earliest,” he added.



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About 440 residential plots up for grabs near Jewar airport – ET RealEstate

GREATER NOIDA: Those looking to own a house close to the upcoming international airport in Jewar can now do so as the Yamuna Expressway Authority has launched a residential plot scheme.

Taking note of the demand for smaller plots, the Authority has floated a total of 440 residential plots measuring about 300 sqm. Earlier this week, the Authority launched some 367 industrial plots.

Officials said people will have time up to March 30 to apply for the residential plots. “Post-applications, the documents will be scrutinised. Allotment will be done through a draw of lots on May 5,” said YEIDA CEO Arun Vir Singh.

Sharing more details, the Authority officials said that the maximum number of plots (117) launched in the scheme admeasure 120 sqm. While plots measuring under 200 sqm will be available at the rate of Rs 16,870 for a sqm, the bigger ones will be offered for Rs 16,550 per sqm. The plots will be situated in sectors 17, 18, 20 and 22D along the Yamuna Expressway.

The industrial plot scheme will draw to a close on March 20 and allotment will be done through a draw of lots on April 15.

Industrial plots are being offered in Sector 33 for toy manufacturers, handicraft, handloom and furniture companies in Sector 29 and general industries or startups in sectors 32 and 33. Industrial plots will be allocated at the rate of Rs 6,670 a sqm.

While 24 plots are being offered in Sector 33 for toy manufacturers, YEIDA has earmarked 47 plots in Sector 29. Maximum number of industrial plots (296) will be available in sectors 32 and 33 to open general non-polluting industries.

YEIDA will develop the area and apart from constructing external and internal roads will also provide electricity connection, water connection, sewerage line and drainage system in the locality.



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YEIDA plans to float new residential plots scheme soon – ET RealEstate

GREATER NOIDA: YEIDA is expected to launch a scheme on Tuesday to cater to the demands of entrepreneurs and industrialists. Besides, a residential plot scheme is also on the cards and could be floated within the next few days.

Officials said that layout and number of plots that will be offered have been finalised. “We were waiting for the Rera registration number to be generated. The scheme will be launched as soon as the registration process and formalities get complete,” said an officer of the authority explaining the reason behind the delay in launch of the scheme.

The industrial scheme will remain open till March 22 and a draw will take place in April, officials said. Officials added that link to apply to the two schemes will be available on the authority’s website.

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