Draw will be held today for YIDA Plot Scheme. Around 1,900 applicants will be present in the draw.The draw will be supervised by three retired judges of the High Court.
New Delhi. There is a huge craze among people to build houses near Noida International Airport. The proof of this is the huge response to the scheme brought by Yamuna Expressway Industrial Development Authority (YEIDA) to allot 361 residential plots. 202,235 people had applied to buy these 361 plots. Out of these, only 187000 applications will be included in the draw. The draw for the plots will be held today at the India Expo Center in Greater Noida. Around 1,900 applicants will be present in the draw, while other applicants will be able to watch the live telecast on social media. The draw will be conducted under the supervision of three retired judges of the High Court. Unsuccessful applicants will be refunded their registration fee within 72 hours.
This residential scheme of Yamuna Expressway Industrial Development Authority (YEIDA) includes residential plots located in Sectors 16, 18, 20 and 22D. The size of these plots ranges from 120 square meters to 4,000 square meters. The price of these plots has been kept at Rs 29,500 per square meter. According to YIDA officials, 202,235 applications have been received under this scheme. Of these, 187,000 applicants chose the lump sum payment option, while 14,374 opted for installments.
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There is a lot of competition for a 120 square meter plot.
According to a news in Times of India, there is maximum competition for plots of 120 square meters. A total of 67,197 applications were received for these, while for 300 and 162 square meters, 59,163 and 44,181 applications came to YIDA respectively. YIDA officials said that in view of the large number of applications, applicants who have opted for installments will not be included in the lottery, as this was already mentioned in the scheme booklet. For this reason, 14,374 applications will not be included in the draw.
Why is there so much competition for plots?
Real estate experts believe that the growing projects around Noida International Airport, such as Film City, Semiconductor Park, and Medical Device Park, have accelerated the demand for real estate in the area. Avnish Sood, director of Eros Group, says that the competitive prices of these plots have also become the reason for their popularity among the applicants. An applicant said that it is difficult to get a plot at such low prices in NCR. It is a good investment due to Noida Airport and other projects. If the plot is allotted, it will be an important asset.
Tags: noida news, property, real estate, Yamuna Authority
FIRST PUBLISHED: October 10, 2024, 09:44 IST