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

GREATER NOIDA: On Thursday Yamuna Expressway Industrial Development Authority (YEIDA) allocated around 1,000 residential plots. The Authority is expected to rake in Rs 336 crore by the latest residential scheme. The demand for the plots has been increased since the Authority received 2,452 applications for 1,075 plots.

Along with that, the smaller plots are getting a higher response, however, YEIDA had to struggle to search for the takers for plots measuring over 500 sqm. The plots were floated on August 24 and are constructed along the Yamuna Expressway in sectors 17, 18, 20, and 22D.

Conducting the draw of lots at the community center 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 worth of the smallest plot was Rs 19.86 lakh.

“People who have purchased these plots can 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” said YEIDA CEO Arun Vir Singh. The CEO said that the demand for plots has boosted up now. Apart from that, the concession agreement for the development of the project has been inked with Zurich AG.

The Authority is finding out the plots which were grabbed in the past schemes but withdrawn by the original owners because of insufficient funds or some other reasons.

“A scheme of such leftover plots will be launched soon,” said OSD Shailendra Bhatia.

It has come during the allotment process 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.