Noida News: Officials from the Yamuna Expressway Industrial Development Authority (Yeida) announced on Wednesday that the organization has chosen to begin construction on 6,500 residential plots in the vicinity of the new Noida international airport as part of an affordable housing initiative.
Affordable Housing Initiative
According to officials, there will be 6,000 plots overall, each measuring 30 square meters and potentially costing ₹8 lakh. They added that the pricing gives members of the lower middle class the chance to construct homes close to the airport. Yeida stated that the program will begin after the model code of conduct notification is removed the following month.
In addition to the 6,000 30-square-meter plots, there will be about 500 residential plots with sizes ranging from 200 to 4000 square meters. According to officials, the prices for larger plots will be approximately ₹24,000 per square meter.
Yeida’s Plot Scheme Targets Middle-Class and Lower Middle-Class
“We have decided to come up with the plot scheme for the middle-class and lower middle-class because they also need to build their homes in this urban area being developed in close proximity to the Noida airport. Once all formalities are finalise, we will launch the scheme,” said Arun Vir Singh, chief executive officer, Yeida.
After all the necessary procedures are finished, Yeida may announce the plan in June or July. Plots of all sizes will be distributed by a lucky draw after all applications are received in accordance with the established guidelines.
Yeida Awaits Finalization of Scheme Details
“Once all formalities related with exact rate, size, date of scheme and location is finalised, the authority will publish the schedule of the scheme,” said a Yeida official, asking not to be named. The authority had previously introduced a plot program in 2008–09, and these plots will be offered in sectors like 17, 18, and 20, according to officials.
However, because several farmers refused to give up their land for the development of housing plans, Yeida has not yet given possession to many allottees in these sectors. According to officials, they filed writs impacting the residential plot scheme at the Allahabad High Court.
Farmer Concerns Addressed by Yeida
According to Yeida officials, they are settling farmer concerns and granting possession to those who have been allotted. According to Yeida, the land needed for the new project, which is scheduled to begin next month, is free of any disputes, and plot ownership will be made available following allocation.
