Greater Noida: Yamuna Expressway Industrial Development Authority (YEIDA) held the lottery draw for residential plots in Sector 18 along the Yamuna Expressway on Friday. The scheme, which launched on April 21, has attracted more than 54,000 applications for 276 plots measuring 200 sqm each during its registration period.
The lottery proceedings was performed at the India Expo Mart, with three retired High Court judges overseeing the process to ensure transparency. YEIDA’S Officer on Special Duty (OSD) Shailendra Bhatia confirmed that 54225 applications qualified for the draw.
“From the total 54,289 applications received, 64 were rejected due to incomplete paperwork. After addressing objections, 54,225 applicants have qualified for the final draw. The land prices in the area have increased by 35per cent to Rs 35,000 per sqm from the previous Rs 25,900,” said Bhatia. As per officials, nearly 2000 pepole attended the event. Live streaming of the draw was done on YEIDA’s website, DD NEWS UP, YouTube, Facebook and other official social media channels.
“A high-level committee of YEIDA officials was formed to ensure fairness and transparency of the draw. The entire event was photographed and recorded for documentation purposes. Three retired High Court judges were remain present to oversee the process,” Bhatia added.
Successful candidates must pay Rs 7 lakh as a 10 per cent registration fee, with the remaining amount due within 60 days of allocation. Construction must be completed within three years of lease deed execution, or extension charges will apply.
Allocation letters will be distributed soon after the draw. Unsuccessful applicants will receive refunds directly to their bank accounts. The plots are situated in Sector 18, Pocket 9B, in proximity to the upcoming Noida International Airport, YEIDA officials informed.