The draw of lots by the Yamuna Expressway Industrial Development Authority (YEIDA) for 361 residential plots near the Noida International Airport has attracted an unprecedented interest, with nearly 1.9 lakh applicants vying for these valuable parcels of land. Scheduled for Thursday at the India Expo Centre in Greater Noida, this initiative underscores the heightened demand for real estate in the region, particularly following the airport’s foundation stone laying in November 2021.
With an average of 518 applicants per plot, the scheme launched in July 2023 has garnered strong interest across various sectors. Plot sizes range from 120 square metres to 4,000 square metres, priced at Rs 29,500 per square metre, catering to a wide range of buyers. This initiative follows a previous YEIDA scheme that attracted approximately 100,000 applicants for 1,184 plots, indicating a notable rise in interest in residential projects within this rapidly developing region. The appeal of plots near the airport and along the Yamuna Expressway has been bolstered by government initiatives to enhance connectivity, drawing more homebuyers and investors.
The director of Eros Group highlighted that the strategic proximity of the site to key developments like Film City and technology parks enhances its appeal. As urbanisation accelerates, this mixed-use development addresses rising housing demands while promoting sustainable living practices. Such projects are becoming blueprints for integrating luxury with environmental consciousness, appealing to discerning buyers prioritising sustainability. With 202,235 applications for the current scheme, the region showcases a renaissance in residential real estate, driven by increasing interest from high-net-worth individuals and non-resident Indians looking for lucrative investment opportunities.
