Yeida launches housing project, 1,200 units available for purchase near Noida airport

The Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday launched a housing scheme offering at least 1,200 flats in Sector 22D along the Yamuna Expressway on a first-come, first-served basis, authorities said.

The flats are located in Sector 22D, near the future Noida International Airport (above), and will be allotted on a first-come, first-served basis, Yeida officials said. (Sunil Ghosh/HT Archive)

The program will run until March 31, 2025, or until all units have been allocated.

The scheme will offer three types of affordable housing units near the Noida international airport. The airport is scheduled to be commissioned next April, officials said.

One-room apartments with a total area of 29.76 square meters and a usable area of 21.62 square meters cost ₹23.37 lakhs on the ground floor and ₹20.72 lakh for the first, second and third floors.

“We will allot these flats on a first-come, first-served basis to applicants who pay the money and buy the unit. These flats were left out in the old schemes. But this time we hope that people will rush to occupy these flats, which are located along the Yamuna Expressway due to the upcoming airport project near Jewar,” said Arun Vir Singh, CEO, Yeida.

There are 276 apartments available in this category. The second option is one-room apartments in four-story buildings with a total area of 54.75 square meters and a usable area of 36.97 square meters. The price of the apartment is ₹33.05 lakh and there are 713 flats available. There are also two-room flats in multi-storey towers with a total area of 99.86 square metres and a living area of 64.72 square metres. They will cost ₹45.09 lakh and there are 250 flats available in buildings having up to 16 floors.

To apply for the scheme, interested persons should apply online through the Yamuna Expressway Authority website, pay a non-refundable registration fee of Rs. ₹600 and an advance payment (EMD) of 10% of the total premium of the selected flat. Eligible applicants must be Indian citizens above 18 years of age and must not have received any other flat or plot from Yeida in the past. Joint applications with immediate family members are allowed, officials said.

Yeida said an applicant can pay the entire housing amount in one go and get a 2% discount or pay 10% to apply, 20% in the next 30 days and the remaining 70% over five years. The government will levy 10% interest on the remaining 70% of the housing cost, officials said.

Yeida will maintain the complex for a period of two years from the time it takes over the property, after which an Apartment Owners’ Association (AOA) will be established to take over management of the complex.

Those receiving the allocation are required to contribute to the maintenance fund, and the amounts will vary from ₹50,000 for affordable one-room apartments and ₹1.5 lakh for two-bedroom units. Participation in AOA is mandatory for all allotment holders, Yeida said.