Over 2.4 lakh people register for 1,184 residential plots under Yamuna Expressway Authority scheme

Over 2.4 lakh prospective buyers have registered for 1,184 residential plots in the Yamuna Expressway Industrial Development Authority’s (YEIDA) residential plot scheme that closed on September 4. According to officials, more than 1.8 lakh forms were sold and over 1.4 lakh people have deposited earnest money to book plots. The draw of lots would be conducted on October 18, 2023, they said.

“The residential plot scheme received an outstanding response. At least 1.8 lakh application forms were sold and over 1.7 lakh applications were successfully submitted. As many as 1,40,887 applicants have deposited earnest money to book plots till the scheme closed on September 4,” a YEIDA official told Moneycontrol on September 12.

YEIDA Plots Scheme graphic

The residential plot scheme was launched on August 8, and the last date to apply for the scheme was September 1. Owing to technical glitches on the website, the Authority had extended the last date by three days to September 4.

The scheme offered as many as 1,184 residential plots in three YEIDA sectors -- Sector 16, 17 and 20, located along the Yamuna Expressway. The plots on offer will be allotted through a lucky draw.

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Ashish Mishra

Prinicipal Correspondent|moneycontrol

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Officials said that the booking amount (earnest money deposit) was kept at 10 percent of the total cost of the plot. The application form fee was non-refundable.

The residential plots were offered in seven different sizes — 120 , 162, 200, 300, 500, 1,000, and 2,000 sq m. YEIDA offered residential plots at Rs 24,600 per square metre (sq m) under the scheme. Price range of plots was Rs 29.5 lakh to Rs 4.92 crore.

Payment plans

YEIDA had offered three payment plans, which included 10 percent booking amount at the time of application, and the remaining amount to be paid in 90 days from the date of issuance of allotment letter.

The second plan was payment of 50 percent of the total premium (including booking amount) within 90 days from the date of issuance of allotment letter, and the remaining in two half-yearly EMIs, with interest at the rate of 10 percent per annum.

The third plan was that 30 percent of the total premium (including booking amount) to be paid within 90 days from the date of issuance of allotment letter, with the remaining 70 percent payable in 10 equal half-yearly EMIs with 10 percent per annum interest.