NOIDA: YEIDA is set to launch a new scheme this week, offering 19 group housing plots ranging from 16,188 sqm (2.8 acres) to 48,564 sqm (12 acres). These plots will be located in the residential sectors of 17, 18, and 22D, strategically positioned to meet the growing housing demand driven by the upcoming Noida International Airport and industrial development in the area.
The plots will be allotted through an e-auction, with reserve prices set between Rs 32,375 and Rs 35,612 per sqm. This scheme is expected to generate at least 25,000 flats, catering to various segments from affordable to luxury housing, officials said.
In Sector 22D a total of eight plots will be available 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. Reserved prices for these plots range from Rs 65.51 crore to Rs 173 crore. A total of six plots will be up for allotment in Sector 18, each measuring 16,188 sqm. Of these, five plots are priced with a reserved rate of Rs 55 crore, while the remaining plot is set at a slightly higher reserved price of Rs 58 crore.
In Sector 17, five plots in a variety of sizes are up for grabs. These include two plots of 11,513 sqm each, one plot of 12,141 sqm, another of 20,235 sqm, and the largest at 24,282 sqm. Reserved prices for these plots range from Rs 37 crore to Rs 78 crore. In total, these 19 plots cover a combined area of approximately 4.3 lakh sqm, with an aggregate reserved price of around Rs 1,407 crore.
YEIDA CEO Arun Vir Singh said, “We anticipate a significant rise in housing demand in the area, driven by industrial development in the next few years. People working in factories, data centres, Noida International Airport, Film City, and other major projects will need housing and facilities. We plan to bring at least another 30 group housing plots in the future.” Developers have praised this move by YEIDA, noting the significant potential for housing development in these areas.
Manoj Gaur, president of CREDAI NCR, said, “There is a huge gap between demand and supply due to the scarcity of land in Noida and Greater Noida. These new plots will help bridge this gap. Previously, investors were mainly interested in buying plots and flats along the Yamuna Expressway, but now there is real demand.” However, Gaur added 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. “There could be a slight decrease in prices with the availability of so many plots,” he noted.
Gaurav Gupta, general secretary of CREDAI NCR, said, “With the Noida Airport becoming a reality, this is the right time to launch such schemes, allowing developers to focus on the area. The planned industries, corporate offices, and other infrastructural developments will naturally increase the need for residential spaces. We welcome this initiative, as it will keep rates competitive and offer multiple options to homebuyers.”
Amit Modi, director of County Group, said, “More than the airport, the industrial corridor being created by the authority will be a game-changer, attracting diverse footfall. This will cater to both affordable and luxurious segments. As people migrate to the area, there will be a huge market for real estate.” Previously, YEIDA had allotted two group housing plots in Sector 22D to Purvanchal Projects and Eldeco Infrastructure and Properties, raising nearly Rs 250 crore in revenue.
Source Homevior.in
