The biggest lucky draw in Yamuna Expressway Industrial Development Authority’s, or Yeida’s, history is going to take place today, October 10, 2024, where 1,87,000 applicants will compete for just 361 plots earmarked in the vicinity of the soon-to-be commissioned Noida International Airport, and one application is going to be closer to five mere paces.
Key Information of the Lucky Draw
Location: The site in view are the plots are located on Yamuna Expressway on sectors 16, 18, 20, and 22 D fast developing portions adjacent to the Noida Greenfield International Airport, slated to come up by April 2025. The site is considered prime real estate considering proximity to the international airport as well as access to Delhi and Agra.
Plot Size and Price: Yeida had launched this scheme in July, selling plots at ₹29,500 per square meter. The scheme has plots of various sizes, though the 120-square-meter plots that have been most popular with over 67,000 applications have been submitted on those. These smaller plots are affordable, which would attract middle-class buyers to invest in premium locations.
There would be a committee of three retired high court judges who would oversee the draw process so that it is fair and transparent. The whole process will be videographed and streamed online.
Humongous interest in Noida airport plots
The Yeida plot scheme received a humongous response which is indicative of demand in the real estate market bordering the Noida International Airport. Eligible applicants stand at 1,87,000, with an intensely high competition especially for smaller and more budgetarily friendly plots. There is interest from investors, families, and individuals in procuring land for personal use.
Future Real Estate Developments Yeida will also launch another plotting scheme next month, likely before Diwali. Again, the sector is anticipated to generate comparable excitement as it is quickly transforming into an urban commercial center. The airport project in Noida has transformed the real estate market along Yamuna Expressway into the most sought-after destination in north India so far. It has generated huge demand for the property from homebuyers and investors.
Post-Allotment Process
All successful applicants for the fresh launch will be required to pay either a lump sum or installment payment to entitle them to their plots. Those who intend paying by installments during the application cannot be accepted. This will, therefore, ensure that only serious buyers, who can pay for their plots, will buy land. Today will become a memorable milestone in the history of Noida Real Estate, with this Yeida lucky draw attracting the entire nation’s attention. The fact that future infrastructure projects- especially the much-awaited Noida International Airport-is being developed in the vicinity of these plots makes long-term investment an attractive proposition.
