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YEIDA receives 20,000 applications for 550 residential plots

Wednesday, 07 Apr 2021
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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.

The 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 sq mtr  category in which only 117 plots are being offered.

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 mtr on offer and two for 2,000 sq mtr while 16 plots were on offer in this category.

In the industrial segment, 3,851 applications have been received under the MSME category while the rest are for the toy and furniture park.

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

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

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 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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