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YEIDA launches 5 new land use schemes, including land for housing

Yamuna Expressway Industrial Development Authority has come up with five new lucrative offer just to recharge the real estate market along the Yamuna e-way. In its offer authority has announced five categories of land use on offer are flats in residential and plots in industrial, institutional and commercial land use.

The real estate market in its area is expected to gain momentum with new initiative of Yamuna e-way authority. YEIDA has put on offer 280 residential apartments of sizes 29.76 meters and 54.75 meters, while the smaller units number 200 and will cost Rs 11 lakh. The second scheme offers residential flats of bigger sizes and they are 80 in number and it will cost Rs. 19 lakh each. According to authority these affordable units will be allotted through draw of lots to prospective allottees. These low-cost homes will be available through lottery basis only, no other means will be followed to distribute these schemes. These residential segment is developing in sector 22D of YEIDA area.

YEIDA will also auction commercial plots in its area to accelerate development in the area. These commercial plots have been fixed at a prices of Rs. 34,080 per square meters dedicated only for commercial use for investors and entrepreneurs. The authority has decided to finalize its technical bids on June 30, 2016. The development or construction of buildings in these plots will be used only for commercial purpose and will be offered on 90 year lease. The lots will be developed by YEIDA, while construction will have to be carried out by the prospective allottees.

YEIDA in its next scheme, 106 institutional plots are also available for the investors. The allotment price for these plots has been fixed at Rs. 7,560 per square meter. These institutional plots are located in sectors 18, 20 and 22 and the scheme is open-ended. These allotment will be made on the basis of first come first serve basis and based on personal interviews. Meanwhile, authority has put 339 industrial plots on sale up to size 2000 square meters at a price of Rs. 6,405/ sq. m. These plots are located in sectors 29 and 32. This scheme will get closed on June 30, 2016.