The Uttar Pradesh Government is poised to launch an ambitious scheme near the under-construction Jewar Airport, offering approximately 6,000 plots at affordable prices.
The proposed scheme by the Yamuna Expressway Industrial Development Authority (YEIDA) will enable those dreaming of owning a house near Noida International Airport (Jewar Airport), to purchase a 30 square metre plot for as little as Rs 7.77 lakh.
It’s noteworthy that public interest in properties within the YEIDA area has surged following the selection of the developer for the Noida International Airport. In the authority’s last residential plot scheme, over 150,000 applicants had sought plot allotments.
This has necessitated planning and allotment of smaller plots for economically weaker and low-income groups within the authority’s jurisdiction. Therefore, the authority plans to introduce a scheme for 30 square metre plots on land designated for the informal sector, making small plots more accessible to commoners.
The cost for a 30 square-metre plot will be Rs 7.77 lakh, based on the current allotment rate of Rs 25,900 per square metre.
YEIDA CEO Arun Vir Singh announced on Thursday that the authority is making the necessary preparations for the scheme fast. Notably, approximately 28,900 plots, ranging from 60 to 4,000 square metres, have been allotted in Sectors 16, 17, 18, 20, and 22D.
The Yamuna Expressway, which connects Delhi, Noida, Greater Noida, Agra, Mathura, Aligarh, and Faridabad, underscores the scheme’s significance.
The scheme will also include provisions for reservations. Up to 25 per cent of the plots will be reserved for workers employed in industrial units allotted by YEIDA.
Additionally, 5 per cent will be reserved for employees of institutions allotted by YEIDA. Further reservations include 5 per cent each for ex-servicemen, war widows and SC-ST categories, and 4 per cent for disabled individuals. The remaining 51 per cent of the plots will be available for general applicants.
Applicants must be Indian citizens and at least 18 years old. Each person can only apply once, and those who have previously received plots or flats under any scheme will not be considered.
The applicant’s annual income should be at the most Rs three lakh, and an income certificate and a residence certificate from the state government must be attached with the application.
Successful applicants and allottees will be prohibited from transferring the allotted plot for ten years. Additionally, within 60 days of allotment, applicants must pay 30 per cent of the total premium, including the registration fee and any applicable GST.
The remaining 70 per cent must be paid in ten equal instalments with a 10 per cent interest rate.