The Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday allotted 973 residential plots through a draw in newly developed sectors around the recently opened Noida International Airport in Jewar.
Officials said the authority had launched the scheme in April and had received 110,034 valid applications for 973 plots, i.e. about 113 applicants per plot.
“This shows that the demand for land near the airport is increasing like never before. Moreover, 140 applications were rejected when they applied twice for the same scheme, while 23 applicants later withdrew their applications,” Shailendra Bhatia, additional chief executive officer of YIDA, told Hindustan Times.
The draw was held at India Expo Center and Mart, Greater Noida at 10 am. Officials said the draw was conducted manually, with the names of all eligible applicants from each category placed in separate drums and a young student picking up the slips.
The draw was held in the presence of the allotment committee and three observers, including three retired Allahabad High Court judges, officials said. The process was also photographed, videographed and broadcast live.
The highest number of applications were received for 200 square meter (sq. m) plots, with 57,620 applicants competing for 481 plots.
After this, 48,920 applications were received for plots of 162 square meters. The scheme also included four plots of 183 sq m and 184 sq m, for which 566 and 539 applications were received respectively. In the larger categories, 1,528 applications were received for six 223 square meter plots, while 861 applications were received for two 290 square meter plots. Officials said all the plots are located in Sectors 15-C, 18 and 24.
As per the scheme, 100% of the total premium must be paid within 60 days from the date of issue of allotment letter. However, in certain circumstances, the payment deadline can be extended to a maximum of 30 days, officials said.
Plots will be allotted on lease of 90 years from the date of execution of lease deed. The last date for submitting applications under the scheme was May 6. Officials said some plots were reserved for farmers, Scheduled Castes and Scheduled Tribes, persons with disabilities and industrialists having functional units near the airport.
The strong demand for residential plots near Noida International Airport underlines the rapid urban expansion of the area after commercial flight and cargo operations began on June 15 and June 17, respectively. The demand for housing among residents, professionals, investors and businesses is expected to increase further, officials said.
Bhatia said, “YIDA has successfully allotted 973 plots. The increase in demand for residential plots shows that the area is becoming an economic and industrial hub as more and more people want residential plots. Since the demand is high, we are planning to launch another residential scheme in the coming days.”
