Things to know about YEIDA Housing Plot Scheme

By Bricksnwall | 2023-10-12

YEIDA allocated group housing plots for the last time in 2014.

The Yamuna Highway Industrial Development Authority (YEIDA) has launched a scheme to sell six group dwelling plots along the highway in Sector 22D. According to officials, applications for the plan began on September 28 and will remain open through October 27.

YEIDA allocated group housing plots for the last time in 2014. In May of this year, the Authority launched three group housing plots after nine years, but no bids were received. As a result, the idea has been resurrected, this time for six group housing sites.

"We have launched a group housing plot scheme, and this time we are hopeful of receiving a sufficient response from developers."The plots will be distributed through an e-auction."

These plots are located in sector 22D, which is adjacent to the Eastern Peripheral Expressway, the proposed film city, the impending Noida International Airport, the Buddh International Circuit, and the Medical Park. According to officials, customers who acquire land through this scheme would have access to a variety of facilities as well as better connections.

Six different sorts of group housing sites are available under the scheme. These plots range in size from 20,000 to 40,000 square meters (sqm).

The cost and registration fee

The reservation price of plots ranges from Rs 61.5 crore to Rs 135.3 crore, depending on size and location. The reserved rate of bidding is between Rs 30,750 and Rs 33,825 per sqm. The registration fee has been set at 10% of the plot's cost. Because of the various categories, the registration fee has been set at between Rs 6.15 crore and Rs 13.53 crore.

Allotment

Applicants interested in group housing plots under the scheme can apply until October 27, 2023. These group housing sites will be distributed through an e-auction on November 21.

Payment Strategy

The YEIDA has opted to accept payment in installments rather than paying the full property cost in 90 days. Officials stated that candidates will be required to deposit 10% earnest money at the time of application. Successful bidders will be required to pay an additional 20% of the total cost at the time of plot allotment. According to officials, the remaining 70% must be paid over three years in six installments.