Applicants will have to make a lump sum payment this time.
The residential plots will be available in Sector-16, Sector-17, Sector-18, Sector-20, and Sector-24 of Yamuna City.
The Yamuna Authority is all set to launch the highly anticipated residential plot scheme, known as the YEIDA Plot Scheme 2023, near Jewar International Airport. This scheme, which falls under the purview of the Real Estate Regulation and Development Act (RERA), is expected to bring forth a range of residential and industrial plot opportunities for interested buyers.
According to reports, the residential plot scheme is awaiting approval from RERA, which is expected to be granted soon. The scheme will offer a variety of plot options, including residential and industrial plots. The residential plots will be available in four different categories, with sizes ranging from 120 sq. m to 300 sq. m. The designated sectors for these plots include Sector-16, Sector-17, Sector-18, Sector-20, and Sector-24 of Yamuna City. A recent board meeting of the Yamuna Authority approved the proposal to launch this housing program, which aims to allocate a total of 1351 plots.
The residential plot scheme is expected to bring considerable benefits to farmers whose lands were acquired for the Yamuna Expressway Industrial Development Authority’s projects. Out of the total plots available, 17.5 percent will be reserved exclusively for farmers. This allocation aims to provide them with substantial opportunities within the scheme. Considering the investment contracts worth over Rs 33 lakh signed at the state government’s Global Investors Summit, there is a growing need for land to accommodate entrepreneurs. The authority may also launch an industrial plot scheme to cater to this demand.
Under the residential plot scheme, applicants will need to make a significant payment at the time of booking, as the option of paying in instalments has been removed. The allotment rate for these plots has been set at Rs 24,600 per sq. m. To ensure a fair process, the allocation of small plots will be conducted through a lucky draw instead of an e-auction. This change aims to address concerns raised by small businesses that were unable to participate in auctions due to high bidding prices. Unsuccessful candidates will receive a refund of their registration amount without any interest.
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