Yamuna Expressway development body allocates 1,000 residential plots near Jewar – ET RealEstate

GREATER NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday allocated close to 1,000 residential plots. The Authority is expected to rake in Rs 336 crore through the latest residential scheme. The plots were in a lot of demand since the Authority received as many as 2,452 applications for 1,075 plots.

As expected, the smaller plots generated higher response, while YEIDA had to struggle to find takers for plots measuring over 500 sqm. Being developed along the Yamuna Expressway in sectors 17, 18, 20 and 22D, the plots were floated on August 24.

Conducting the draw of lots at the community centre located in Sector P3 of Greater Noida, the Authority sold off 985 out of the 1,075 plots. YEIDA commands a premium of Rs 16,550 per sqm for residential plots. The plot size ranged between 120 sqm and 4,000 sqm. The smallest plot was worth Rs 19.86 lakh.

YEIDA CEO Arun Vir Singh said, โ€œPeople who have bought these plots will be able to reach the Jewar airport within 20 minutes. Sector 22D is located behind Buddh International F1 circuit in Dankaur and Electronic City has been planned next to the sector.โ€ The CEO said that the demand for plots has gone up now as the concession agreement for the development of the project has been inked with Zurich AG.

The Authority is identifying the plots which were grabbed in the past schemes but withdrawn by the original owners due to insufficient funds or other reasons.

โ€œA scheme of such leftover plots will be launched soon,โ€ said OSD Shailendra Bhatia.

During the allotment process, it was found that not many people were interested in buying residential plots spread over land parcels measuring more than 500 sqm. The 90 unsold plots are over 500 sqm or more.

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