YEIDA Raises Land Allotment Rates Ahead Of Noida International Airport Opening
The Yamuna Expressway Industrial Development Authority (YEIDA) has announced a 5.14 per cent increase in land allotment rates across various categories in anticipation of the forthcoming Noida International Airport in Jewar.
Effective from 1 April 2024, the decision to hike rates comes as a response to the rise in the cost inflation index, necessitating adjustments to ensure parity with market conditions.
As per a Magicbricks report, the revised rates will see residential allotments in YEIDA City plots escalating from Rs 24,600 to Rs 25,900 per square metre. Similarly, group housing plots will witness an increase from Rs 30,750 to Rs 32,375 per square metre. Commercial land rates are slated to surge to Rs 51,800-62,200 per square metre, with industrial plot rates ranging from Rs 8,670 to 14,240 per square metre.
This adjustment in rates underscores YEIDA's proactive approach to cater to the growing demand and potential opportunities arising from the Noida International Airport project and associated developments. With the region surrounding the Yamuna Expressway emerging as a prime investment destination, the Authority aims to bolster its land bank to facilitate regional development effectively.
The report further highlights YEIDA's recent launch of the YEIDA Plot Scheme 2023, designed to offer 1,184 residential plots near the Noida International Greenfield Airport (Jewar Airport). Spread across three sectors along the expressway, the scheme invites prospective buyers to apply for plots from 8 August to 1 September 2023, with allotments conducted through a lucky draw mechanism.
Managing land along the Yamuna Expressway corridor, stretching from Greater Noida to Agra, YEIDA plays a pivotal role in facilitating strategic developments and infrastructure projects. The decision to raise allotment rates reflects the Authority's commitment to adapt to evolving market dynamics and ensure sustainable growth.
With a total of 1,184 plots strategically located within the vicinity of Sector 16, 17, and 20, near the Yamuna Expressway, the forthcoming Noida International Airport, and the Eastern Peripheral Expressway, YEIDA aims to capitalise on the region's immense potential and contribute to its overall progress.
