YEIDA Housing Scheme: Affordable Flats Near Noida Airport

The Yamuna Expressway Industrial Development Authority (YEIDA) has unveiled a new YEIDA housing scheme designed to offer affordable and modern housing near the highly anticipated Noida International Airport. This ambitious project features over 1,200 flats, providing a prime opportunity for homebuyers seeking a strategic location and competitive pricing.

Launched recently, the YEIDA housing scheme operates on a first-come, first-serve basis and will remain open until March 31, 2025, or until all available units are allotted. Located in Sector 22D, off the Yamuna Expressway, the scheme is set to attract attention from buyers due to its proximity to major infrastructure projects like the airport and the expressway, making it ideal for long-term investment and residential living.

Key Highlights of the YEIDA Housing Scheme

Under this YEIDA housing scheme, buyers can choose from three categories of flats:

1. Affordable 1BHK Flats
   • Total Area: 29.8 sqm (with a usable living area of 21.6 sqm)
   • Pricing: ₹23.4 lakh for ground-floor units, while first, second, and third-floor units are available at ₹20.7 lakh.
   • Total Units Available: 276
     These flats are perfect for individuals or small families looking for cost-effective yet modern housing in a developing urban zone.
2. Standard 1BHK Flats
   • Total Area: 54.7 sqm (with a usable living area of 37 sqm)
   • Pricing: ₹33 lakh per unit
   • Total Units Available: 713
     Offering more spacious living areas, these flats are ideal for families seeking affordable housing with modern amenities.
3. Spacious 2BHK Flats
   • Total Area: 99.9 sqm (with a usable living area of 64.7 sqm)
   • Pricing: ₹45 lakh per unit
   • Total Units Available: 250
     These flats offer larger living spaces, making them a great choice for families seeking comfort and space near Noida’s rapidly growing commercial and residential hubs.

Application Process for the YEIDA Housing Scheme

Applying for the YEIDA housing scheme is straightforward. Interested homebuyers can submit their applications online via the official Yamuna Expressway Authority website. A ₹600 non-refundable registration fee is mandatory, along with an earnest money deposit (EMD) amounting to 10% of the total premium for the selected flat.

Eligibility Requirements for the YEIDA Housing Scheme

To be eligible for the YEIDA housing scheme, applicants must satisfy the following requirements:

• Citizenship: Must be an Indian citizen.
• Age: Applicants must be at least 18 years old.
• Previous Allotments: Applicants must not have been allotted flats or plots by YEIDA in the past.
• Joint Applications: Joint applications with immediate family members (parents, spouses, or children) are permitted.

Flexible Payment Plans Under the YEIDA Housing Scheme

The YEIDA housing scheme offers flexible payment options, allowing buyers to choose the plan that best suits their financial situation:

1. One-Time Payment Plan: Buyers can receive a 2% discount on the total premium if they pay the full amount within 60 days of receiving the Letter of Intent (LOI). This is an attractive option for buyers looking to secure a cost-saving deal on their new property.
2. Installment Plan: Buyers can opt for a more gradual payment process by paying 30% upfront of the total premium. The remaining 70% can be paid over five years in ten half-yearly installments, with an interest rate of 10% per annum. This option makes homeownership more accessible to buyers who prefer a flexible payment schedule.

Maintenance and Long-Term Management

YEIDA will handle the initial maintenance of the flats for the first two years after possession. After this period, an Apartment Owners Association (AOA) will be formed to take over the management of the housing complex.

To ensure smooth management, allottees are required to contribute to a maintenance corpus fund. Contributions range from ₹50,000 for affordable 1BHK flats to ₹1.5 lakh for the 2BHK units. All allottees must participate in the AOA as required by the UP Apartment Act 2010.

Possession and Lease Terms

Buyers of flats under the YEIDA housing scheme will receive possession of their units after executing and registering the lease deed, which can only occur after paying a minimum of 30% of the total premium. This ensures that buyers have financial security and commitment to the property.

In case buyers wish to surrender their flat, the EMD is refundable under specific conditions. If the flat is surrendered before the issuance of the LOI, the deposit is refunded after deducting ₹10,000. If the flat is surrendered within 30 days after LOI issuance, 10% of the EMD will be forfeited. However, the full EMD will be forfeited if the flat is surrendered more than 30 days after allotment or if the allotment is canceled due to non-compliance.

Important Restrictions and Guidelines

Under the YEIDA housing scheme, certain restrictions are in place to maintain the quality and residential nature of the flats:

• Flats must be used strictly for residential purposes.
• No structural changes or alterations are allowed without prior approval from YEIDA.
• Buyers are not allowed to display posters or advertisements on the exterior walls of the building.

Conclusion

The YEIDA housing scheme presents a unique opportunity for homebuyers to secure affordable housing near a high-growth area, with flexible payment options and various flat types to meet the needs of different buyers. With its proximity to the upcoming Noida International Airport, this project is poised to become a sought-after residential destination for professionals, families, and investors alike.

If you’re looking for a new home in Noida, the YEIDA housing scheme offers the perfect blend of affordability, location, and long-term investment potential.

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