Yamuna Expressway Authority set to launch five schemes
The Yamuna Expressway Industrial Development Authority (YEIDA) has come up with five new schemes through which different type of plots will be made available. The schemes will offer industrial, residential, institutional as well as mixed land use plots.
The schemes are presently close to final stage and will be implemented shortly, revealed Mr. P.C Gupta, CEO of the Authority. Once the final draft is prepared, it will be sent to the authority chairman Rama Raman for approval followed by which the schemes will be launched officially, he added.
The civic authority has set the schemes in an efficient manner, so that they can cater various sections of the society. The YEIDA is planning to offer plots in Delhi-NCR at the cheapest rates through these schemes.
Types of plots offered
The new schemes will include industrial, residential, institutional and mix land use plots with a wide range of size options. One of the schemes will be offering industrial plots with the options of 300 sq m, 600 sq m and 1,800 sq m. Another scheme will be offering plots ranging between 2,100 sq m to 500 acres.
For the first time, the civic authority is going to offer mixed land use plots under which 20 percent area will be earmarked for residential development on plots spreading across 100 acres.
The civic body is also planning to launch schemes offering multi-storey apartments which would offer 1 BHK and 4 BHK apartments.
No legal hassles
The main advantage of buying the plots under the upcoming five schemes of YEIDA is that the plots will be free of land disputes. Mr. Gupta revealed that the authority is launching the schemes on land that has been directly purchased from farmers and he also confirmed that they will be free of land disputes.
Location advantages
According to market experts, Yamuna Expressway area has always been one among the favourite destinations of buyers and investors, mainly for its affordable price factor and infrastructure development. While Noida, Gurgaon and Greater Noida have almost become saturated, Yamuna expressway region seems to be more promising in the near future.
Impact on real estate
The Authority’s decision to launch new schemes through which plots will be offered at cheap rates will surely have a positive sentiment to the crawling market.
The land transfers were put on hold in 2011 following Allahabad high court’s order. Now they have been restarted, which is a good sign of hope to the new buyers. The region is likely to have many industries and residential developments in the upcoming years.
What happened in the previous scheme?
The Yamuna Expressway Authority had launched a scheme of 21,000 residential plots in 2009. But after the land row, the court had imposed a stay against the plots. On Sep 24, 2013, the YEIDA had passed a circular allowing for land transfer which was stopped two years ago following the court order. As of now the court stay exists on 12,000 plots while the rest of the undisputed plots can be easily transferred.
