YEIDA introduces residential and commercial plots of land programs
The Yamuna Motorway Industrial Development Authority (YEIDA) has reopened new residential and commercial plot programs for areas along the motorway after a nine-year hiatus. From these two programs, the Authority hopes to make about Rs 500 crore.
Three properties have been offered for auction by YEIDA, previously known as Yamuna Authority. Interested parties may submit applications starting on May 5. The group housing program has a June 2, 2023 deadline, and a June 23 e-auction is scheduled for the two 45,000 square meter plots and one 60,000 square meter plot, both of which are located in sector 22D. On May 18, 2023, the pre-bid meeting for the plan is expected to take place.
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Since the plots are close to the Yamuna Motorway, the Eastern Peripheral Motorway, the upcoming Noida International Airport, and various proposed infrastructure projects like Film City, medical devices park, and logistic park, among others, YEIDA CEO Arun Vir Singh expressed optimism about a positive response to the scheme.
The Authority’s most recent sector group housing program went into effect in 2014. Given the need for affordable homes in the area, the recently announced program is anticipated to be well-liked.
The Housing for All program
The Housing for All project, a flagship policy introduced by the Indian government in 2015, includes YEIDA’s residential plots program. By 2024, the plan hopes to offer all citizens access to affordable housing. The program seeks to construct some 20 million low-cost homes for the nation’s urban and rural underprivileged.
The YEIDA residential plots program is in line with the initiative’s objective of giving everyone access to affordable homes. The program is anticipated to draw a large number of homebuyers looking for inexpensive dwelling options in the area.
Scheme for commercial plots
A plan for the distribution of seven commercial plots has also been floated by YEIDA. The commercial lots will be sold at auction with a 90-year lease. The plots, which range in size from 4,000 to 12,000 square meters, are situated in sectors 33, 29, and 32.
The plan for commercial plots is anticipated to draw companies wishing to establish a presence in the area. The properties are situated in desirable areas with quick access to nearby infrastructural projects including the Yamuna Motorway.
Conclusion
The region’s real estate market is anticipated to grow as a result of YEIDA’s introduction of new residential and commercial plot schemes. The programs are a part of the government’s Housing for All effort and support its objective of giving everyone access to affordable housing. The programs are anticipated to draw a large number of homebuyers and companies searching for reasonably priced residential and commercial choices in the area.
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