YEIDA's New Housing Plot Scheme 2024: Prices, Plot Sizes, Eligibility, and Other Details
YEIDA's Details of New Housing Plot Scheme 2024: Prices, Size, Eligibility, and More
With prospective buyers eager to find their new homes closer to the soon to be built Noida International Airport, the Yamuna Expressway Industrial Development Authority (YEIDA) has finally come out with a new housing plot scheme for Diwali of 2024. It has around 821 plots for sale in Sectors 18 and 24A, a locality that offers well-suited options for prospective home buyers in this fast-developing region in the capital.
Highlights of the Plot Scheme 2024 by YEIDA
Application Timeline: Application open October 31, 2024 through November 30, 2024.
Date of Allotment Drawing for plots — 27 December 2024
Plot Sizes and Availability
Under this scheme, residential plots are being offered by YEIDA in the following sizes:
- 120 sqm
- 162 sqm
- 200 sqm
- 250 sqm
- 260 sqm
Out of 451 plots in Sector 24A, as many as 372 are on the open category.
Residential Demand near Noida International Airport
North of Noida International Airport Maximum buoyancy among home purchasers has come around the proposed world movie town inside the Noida International airport vicinity. Investors see the programme as a chance to acquire property in an up-and-coming urban centre with the airport expected to open in April 2025.
Earlier, in the scheme launched in September 2024, 361 plots were offered by YEIDA and got over 2 lakh applications. Under this scheme plots of sizes between 120 sqm to 4,000 sqm were offered at ₹29,500 per sqm for sale.
- Preferential Location Charges
- Applicable cases: additional + 5% location charge will be applied in${heading}
- Park-facing/Green belt plots
- Corner plots
- available for plots situated on road 18 m or wider
- No plot shall be subjected to more than 15% of the premium as maximum location charge.
Cost of Land & Other Charges
Under this scheme, the base rate of the plots has been fixed at ₹25,900 per sqm. The allottee shall be liable to pay proportionate revision /enhancement in acquisition cost as determined by the court or government from time to time.
Allotment Process
The allotment of plots will be done through a draw of lots, and categories will be drawn separately.
Eligibility Criteria
- Forget To Add In Ownership Limit : No Person of immediate family,spouse and minor children be the owner of residential plot/flat allotted by YEIDA.
- Age Restriction: Contenders will be of 18 years old or more as on date of dispatch of plot
- Citizenship: Anyone who is an Indian citizen and non-resident Indians (NRIs) who are not banned from purchasing in Uttar Pradesh.
- Single Plot Limit: A single individual can apply for only one plot If it is discovered that a applicant or even family members are holders of many plots, after that all of them applications as well as allotments will be actually terminated as well as deposits produced forfeited.
Joint Applications
Joint names may apply with immediate family members (e.g. proof that your mother, father, sibling, spouse or children) If a husband and wife both apply and are given allotments, then one of the plots has to be given up within a month.
Construction Timeline
After signing the lease deed, allottees need to construct their buildings in conformance with YEIDA building bylaws and get the completion certificate within three years. In case of delayed construction, an extension can be held with the following charges.
- Year 1 → 4% of total premium
- Year 2 → 5% of the total premium
- Year 3 → 6% of total premium
- More than 3 years → 4% of the localized sector rate for every sqm
For more details and application process regarding the notifications → official YEIDA website.
Refund Process for Unsuccessful Applicants
Applicants who do not secure a plot will have their registration money refunded under the following conditions:
- Refund Without Interest: If the registration money has been held by YEIDA for less than one year, it will be refunded without interest.
- Refund With Interest: For amounts held longer than one year, a simple savings account interest rate (as per SBI guidelines) will be applied to the refund.
To ensure smooth processing, applicants must provide their bank account details and submit a canceled cheque.
Plot Locations and Availability
The plots are strategically located in Sector 24A, a rapidly developing residential area with close proximity to the airport and other major infrastructure projects. This makes them ideal for both living and investment purposes.
Plot Distribution in Sector 24A:
- 100 plots
- 169 plots
- 172 plots
- 06 plots
- 04 plots
- Total: 451 plots
Allotment Process and Draw
The allotment of plots will be conducted through a transparent draw on December 27, 2024. Key details of the process include:
- Separate draws will be conducted for each plot category to ensure fair opportunities for all eligible applicants.
- Successful applicants will have their registration fee adjusted against the total cost of the allotted plot