Yamuna Authority launches scheme for 1,239 flats

Greater Noida: After receiving a huge interest from buyers in the housing plot scheme, the Yamuna Expressway Industrial Development Authority (YEIDA) has launched a scheme of multi-storey built-up flats in proximity to the upcoming Noida International Airport in Jewar, said officials on Thursday.

As per officials, a total of 1,239 flats of distinctive sizes have been introduced in the scheme. They will be sold on a first-come, first-served basis.

“The scheme presents a unique opportunity for investment and a chance for those who want to relocate to the new area to establish their

homes. The housing scheme also offers a promising investment prospect,” a senior YEIDA officer said.

Dr. Arun Vir Singh, Chief Executive Officer (CEO) of YEIDA, said, “YEIDA has issued the notification, and the brochure will be available starting from September 19, 2024 on the authority’s official website. The authority has set the prices for the affordable, one BHK and two BHK flats ranging from Rs 23.37 lakh to Rs 45.90 lakh”.

The officer said that more projects under the group housing scheme, near the Yamuna Expressway, are set to commence soon, Builders previously declared as defaulters by any of the three authorities- Noida, Greater Noida and YEIDA, will not be eligible to participate in the application process.

The decision to launch affordable housing schemes aims to construct approximately 20,000 flats across 20 plots located in three sectors along the Yamuna Expressway. This initiative is expected to provide housing opportunities to many people while contributing to the overall development of the region. A real estate investor said that with the rapid development of the area and the presence of an airport in proximity, it is expected to become a highly sought-after location for investment. “The cost of each category of flats in the area is likely to rise significantly soon,” said Jatin Chakerverthy, a real-estate investor.