The Yamuna Expressway Industrial Development Authority (YEIDA) has witnessed an unprecedented response to its recent housing scheme, which was launched on July 5, 2024. The scheme, offering 361 residential plots, has drawn over 202,000 applications, highlighting a robust demand for real estate in the region.
The scheme, which initially scheduled the plot allotment draw for September 20, has now been rescheduled to October 10. Despite the limited number of available plots, the scheme has generated remarkable revenue through the registration process, surpassing the total expected earnings from the actual sale of the plots. YEIDA has accumulated a staggering ₹12,230.9 crore solely from registration fees, a figure that significantly exceeds the revenue anticipated from the final sale of the plots. This impressive sum underscores the high demand and competitive nature of the residential real estate market in the area.
The plots in question are situated in key sectors (16, 18, 20, and 22D) adjacent to the Yamuna Expressway, a critical infrastructure link connecting Greater Noida with Agra and Mathura. The strategic location near the Eastern Peripheral Expressway (EPE), the planned Film City, and the forthcoming Noida International Airport has further spurred interest. With 84 plots available, there were 73,153 applications. Of these, 67,400 applicants opted for a full upfront payment. Out of 77 plots, there were 47,709 applications. Notably, 44,345 of these applicants chose to make a lump sum payment, resulting in ₹1,950.4 crore being deposited for just these plots.
This overwhelming response not only reflects the high demand for residential properties in this rapidly developing region but also highlights the financial potential of such schemes for development authorities. The upcoming draw on October 10 will determine the allocation of these sought-after plots, while the substantial registration revenue has already positioned YEIDA favourably in terms of financial inflows.
