The Yamuna Expressway Industrial Development Authority (YEIDA) has unveiled an exciting new residential plot scheme this Diwali 2024, offering a golden opportunity for homebuyers and investors alike. With 821 plots up for grabs in Sectors 18 and 24A, strategically located near the upcoming Noida International Airport, this scheme promises to be a game-changer in the real estate market. Let’s delve into the details of this much-anticipated offering and explore why it might just be your ticket to owning a piece of prime real estate.
Scheme Overview
The YEIDA Plot Scheme Diwali (RPS-08A) 2024 is a residential plot scheme launched by the Yamuna Expressway Industrial Development Authority. This scheme offers 821 plots across two sectors:
- Sector 24A: 344 plots
- Sector 18 (Blocks 9A and 9B): 477 plots
The scheme aims to cater to the growing demand for residential properties near the upcoming Noida International Airport, which is expected to be operational by April 2025.
Plot Sizes and Distribution
YEIDA has introduced a range of plot sizes to accommodate different needs and budgets:
| Plot Size (sq. meters) | Number of Plots |
|---|---|
| 120 | 107 |
| 162 | 100 |
| 200 | 101 |
| 250 | 50 |
| 260 | 33 |
This diverse range of plot sizes ensures that there’s something for everyone, from first-time homeowners to those looking for larger properties.
Key Dates and Application Process
Mark your calendars for these important dates:
- Application Start Date: October 31, 2024
- Application Deadline: November 30, 2024
- Draw Date: December 27, 2024
The entire application process will be conducted online through YEIDA’s official website: www.yamunaexpresswayauthority.com
Eligibility Criteria
General Category
- Open to all Indian citizens and NRIs above 18 years of age
- Applicants can apply for only one plot
- Those already allotted residential plots or flats in previous YEIDA schemes are not eligible
Reserved Categories
- 17.5% for farmers whose land has been acquired/purchased for planned development
- 5% for functional industrial units allotted by YEIDA
Eligibility for Bonafide Industries
Industrial units that have been allotted land by YEIDA and have completed construction as per lease deed terms are eligible under this category.
Eligibility for Farmers
Farmers whose land has been acquired by YEIDA for planned development are eligible for plots under the reserved category.
Location Advantages
The plots offered in this scheme are strategically located, offering several advantages:
- Proximity to Noida International Airport: The plots are situated near the upcoming airport, which is set to become a major transportation hub.
- Connectivity: The area is well-connected via the Yamuna Expressway and the Eastern Peripheral Expressway, ensuring easy access to Delhi, Noida, and other major cities.
- Upcoming Infrastructure: The region is slated for significant development, including:
- International Film City
- Medical Devices Park
- Electronics Manufacturing Cluster
- Apparel Park
- Handicraft Park
- Future Growth Potential: With major projects in the pipeline, the area is expected to see substantial appreciation in property values.
Pricing and Payment Details
The pricing for the plots varies based on size and location. Here’s a breakdown of the registration amounts:
| Plot Size (sq. m) | Registration Amount (₹) – SC/ST | Registration Amount (₹) – General |
|---|---|---|
| 120 | 159,540 | 310,800 |
| 162 | 215,540 | 420,000 |
| 200 | 247,000 | 435,000 |
| 250 | 327,500 | 647,500 |
| 260 | 337,600 | 673,400 |
Note: Farmers affected by YEIDA’s land acquisition are eligible for a 17.5% discount on the plot price.
Payment Process:
- Initial registration amount to be paid at the time of application
- Successful allottees will need to pay 30% of the total plot cost within 60 days of allotment
- The remaining amount can be paid in installments as per YEIDA’s payment plan
Comparison with Other Schemes
Let’s compare YEIDA’s Diwali Scheme with other recent residential plot offerings in the NCR region:
| Feature | YEIDA Diwali Scheme | DDA Land Pooling | Noida Authority | Ghaziabad Development Authority |
|---|---|---|---|---|
| Total Plots | 821 | Sector-based | Varies by scheme | Varies by scheme |
| Plot Sizes | 120-260 sq.m | 200-500 sq.m | 60-500 sq.m | 50-300 sq.m |
| Location | Near Noida Airport | Outskirts of Delhi | Noida Sectors | Ghaziabad |
| Price Range | ₹29,500/sq.m (approx) | ₹23,000-60,000/sq.m | ₹35,000-150,000/sq.m | ₹18,000-40,000/sq.m |
| Infrastructure Development | High | Moderate | High | Moderate |
| Investment Potential | Very High | High | High | Moderate |
| Connectivity | Excellent | Good | Excellent | Good |
Why Invest in YEIDA’s Diwali Scheme?
- Strategic Location: Proximity to the upcoming Noida International Airport and other major infrastructure projects.
- Affordable Pricing: Compared to similar locations in NCR, the pricing is competitive.
- High Appreciation Potential: With the airport and other projects coming up, property values are expected to rise significantly.
- Planned Development: YEIDA ensures organized and planned development of the area.
- Diverse Plot Sizes: Options available for various budgets and needs.
- Transparent Allotment Process: Online application and draw system ensures fairness.
- Reserved Categories: Special provisions for farmers and industrial units.
Application Process: Step-by-Step Guide
- Visit the Official Website: Go to www.yamunaexpresswayauthority.com
- Download the Brochure: Pay ₹600 to download the detailed scheme brochure.
- Fill the Application Form: Complete the online application form with accurate details.
- Upload Documents: Scan and upload all required documents as per the checklist.
- Pay Registration Amount: Make the payment for the registration amount online.
- Submit Application: Review all details and submit your application.
- Save Acknowledgment: Keep the acknowledgment receipt safe for future reference.
- Wait for the Draw: The computerized draw will be held on December 27, 2024.
- Check Results: Results will be published on YEIDA’s website post the draw.
FAQs
Q1: Can I apply for multiple plots? A: No, each applicant can apply for only one plot under this scheme.
Q2: Is there any income criterion for eligibility? A: No, there is no specific income criterion mentioned for the general category.
Q3: What happens if I’m not selected in the draw? A: Your registration amount will be refunded without interest within 90 days of the draw date.
Q4: Can NRIs apply for this scheme? A: Yes, NRIs can apply as long as they are not prohibited from purchasing property in India.
Q5: Is there a specific timeline for construction after allotment? A: Yes, allottees are required to complete construction within three years from the date of execution of the lease deed.
Q6: Are there any additional charges apart from the plot cost? A: Yes, there may be location charges for corner plots, park-facing plots, or plots on wider roads. These details are available in the scheme brochure.
Q7: Can I surrender my plot after allotment? A: Yes, but it would be subject to YEIDA’s plot surrender policy and may involve deductions.
Q8: Is there a resale restriction on the allotted plots? A: Typically, there’s a lock-in period before you can resell. Check the detailed terms in the scheme brochure.
Q9: How can I finance my plot purchase? A: YEIDA offers installment plans, and you can also explore home loans from banks and financial institutions.
Q10: What if I miss a payment installment? A: Late payments usually incur penalties. It’s crucial to adhere to the payment schedule to avoid any complications in your allotment.
The YEIDA Plot Scheme Diwali (RPS-08A) 2024 presents a unique opportunity to invest in a rapidly developing area. With its strategic location, diverse plot sizes, and the promise of future appreciation, it’s an offering worth considering for both end-users and investors. As with any significant investment, it’s advisable to thoroughly review the scheme details, assess your financial capacity, and consider future development plans before making a decision. With the right approach, this could be your gateway to owning a piece of prime real estate in one of India’s most promising urban developments.