YEIDA Draws 112,000 Applications for 451 Residential Plots Near Noida Airport

10 Dec 2024 CW Team

The Yamuna Expressway Industrial Development Authority (YEIDA) has received an overwhelming 112,000 applications for just 451 residential plots near the upcoming Noida International Airport. The registrations for the scheme, which closed on November 30, have generated approximately Rs 48 billion in revenue. The residential plots, located in Sector 24A along the Yamuna Expressway, are strategically positioned near the proposed Film City, the Eastern Peripheral Expressway, and the new airport. A lucky draw for allotment will be held on December 27. The plots, available in five sizes ranging from 120 square meters to 260 square meters, are priced at Rs 25,900 per square meter. The smallest plot costs Rs 3.108 million, while the largest is priced at Rs 6.734 million, excluding additional charges. The scheme’s immense popularity highlights the growing demand for residential real estate in the region, driven by proximity to the airport and rapid infrastructure development. Industry experts report a 40-50% appreciation in land prices in areas like Jewar over the past two years. Vishal Raheja, Founder of InvestoXpert.com, emphasised the area’s potential, predicting it could become one of India’s top five real estate hotspots by 2025, with a market valuation exceeding Rs 600 billion. He compared this growth to the transformation around Delhi’s IGI Airport, where property values tripled within a decade. The Noida airport region is poised to become a major hub, combining infrastructure growth, strategic location, and investor interest to drive the next phase of real estate development in the National Capital Region. (moneycontrol)

Real Estate

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