YEIDA’s New Scheme: Transforming Noida’s Housing Landscape

The Yamuna Expressway Industrial Development Authority (YEIDA) is set to launch a new scheme this week, offering 19 group housing plots in Noida. These plots, ranging from 16,188 sqm (2.8 acres) to 48,564 sqm (12 acres), will be located in the residential sectors of 17, 18, and 22D. This initiative YEIDA’s new scheme seeks to address the increasing housing demand fueled by the forthcoming Noida International Airport and the area’s industrial growth.

Key Highlights of the YEIDA’s new scheme

• Plot Sizes and Locations: The plots will be available in three sectors:
  • Sector 22D: Eight plots in four different sizes, including four plots of 20,235 sqm each, two plots of 47,754 sqm each, one plot of 45,731 sqm, and one plot of 48,564 sqm.
  • Sector 18: Six plots, each measuring 16,188 sqm.
  • Sector 17: Five plots in various sizes, including two plots of 11,513 sqm each, one plot of 12,141 sqm, one plot of 20,235 sqm, and the largest at 24,282 sqm.
• Reserve Prices: The reserve prices for these plots range from Rs 32,375 to Rs 35,612 per sqm. In Sector 22D, the prices range from Rs 65.51 crore to Rs 173 crore. In Sector 18, five plots are priced at Rs 55 crore each, with one plot slightly higher at Rs 58 crore. In Sector 17, the prices range from Rs 37 crore to Rs 78 crore.
• Total Coverage: The combined area of these 19 plots is approximately 4.3 lakh sqm, with an aggregate reserved price of around Rs 1,407 crore.

The plots will be allotted through an e-auction, ensuring transparency and fairness in the allocation process. This YEIDA’s new scheme is projected to produce a minimum of 25,000 flats, accommodating a wide range of housing segments from affordable to luxury options.

YEIDA CEO Arun Vir Singh highlighted the anticipated rise in housing demand due to industrial development in the area. The new housing projects will serve individuals employed in factories, data centers, Noida International Airport, Film City, and other significant developments. Singh also indicated plans to introduce at least 30 additional group housing plots in the future.

Developers have praised YEIDA’s new scheme, noting the significant potential for housing development in these areas. Manoj Gaur, president of CREDAI NCR, emphasized that the new plots would help bridge the gap between demand and supply due to the scarcity of land in Noida and Greater Noida. However, he noted that this development might not significantly affect prevailing flat rates, as the demand for 2BHK flats (affordable housing) is currently low, with a post-Covid shift towards larger flats.

Gaurav Gupta, general secretary of CREDAI NCR, welcomed the initiative, stating that the Noida Airport’s reality would naturally increase the need for residential spaces. He believes this will keep rates competitive and offer multiple options to homebuyers.

Amit Modi, director of County Group, pointed out that the industrial corridor being created by the authority would be a game-changer, attracting diverse footfall and catering to both affordable and luxurious segments. He emphasized the huge market for real estate as people migrate to the area.

YEIDA’s new scheme is a strategic move to address the growing housing demand in Noida, driven by significant infrastructural developments like the Noida International Airport and the industrial corridor. With a transparent e-auction process and a range of plot sizes and prices, this initiative is set to cater to a broad spectrum of housing needs, from affordable to luxury segments.

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