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In a significant development, the Yamuna Expressway Industrial Development Authority (YEIDA) held a draw on October 18, 2023, to allocate 1,184 residential plots across three different sectors, a move that is expected to bring in substantial revenues of approximately Rs 698 crore for the Authority.
YEIDA, which serves as the key agency responsible for executing the Yamuna Expressway Project and its associated developments in the region, plays a pivotal role in overseeing residential, commercial, and industrial developments along the 165-kilometer-long Yamuna Expressway, seamlessly connecting Greater Noida to Agra.
This draw, a culmination of a scheme initiated on August 8 and closed on September 4, witnessed an astounding response from the public, with a staggering 1.4 lakh applicants enthusiastically competing for the limited 1,184 residential plots available in sectors 16, 17, and 20 along the Yamuna Expressway.
YEIDA's officials structured the draw to cater to a wide array of preferences by offering plots in seven different size categories: 120, 162, 200, 300, 500, 1,000, and 2,000 square meters. These residential plots were enticingly priced at Rs 24,600 per square meter, with plot prices ranging from Rs 29.5 lakh to Rs 4.92 crore.
YEIDA authorities anticipate a remarkable revenue inflow of approximately Rs 698.52 crore, driven by the successful allocation of all 1,184 plots. This substantial amount is not only a testament to the Authority's successful execution of the draw but also an indicator of the robust demand for real estate along the Yamuna Expressway.
The applications for these plots exhibited notable variations in preferences, with 55,647 applications being submitted for 200-square-meter plots, followed by 31,130 applications for 120-square-meter plots. An additional 20,574 applications were received for 162-square-meter residential plots, emphasizing the diverse requirements and preferences of potential buyers in the region.
The eagerly awaited list of successful allottees is set to be published on the Yamuna Expressway Authority's official website, www.yamunaexpresswayauthority.com, in the near future. As this draw underscores the immense interest in real estate development along the Yamuna Expressway, it also reinforces the region's potential for growth and investment opportunities.
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