The Yamuna Expressway Industrial Development Authority (YEIDA) is gearing up to launch a major affordable housing scheme, offering 6,500 residential plots near the forthcoming Noida International Airport. This initiative is designed to provide affordable home-building opportunities for the lower middle class, a demographic often overlooked amidst rapid urban development.
Set to commence after the model code of conduct is lifted next month, the scheme will feature a variety of plot sizes. Of the 6,500 plots, 6,000 will measure 30 square meters each, priced around ₹8 lakh, making them accessible to a larger portion of the population. Additionally, approximately 500 larger plots, ranging from 200 square meters to 4,000 square meters, will be available at around ₹24,000 per square meter. This tiered pricing model is intended to accommodate different financial capabilities, ensuring broader access to homeownership.
Arun Vir Singh, CEO of YEIDA, has emphasized the authority’s dedication to supporting middle and lower middle-class families, affirming their right to establish homes in this rapidly growing urban area. The strategic location near Noida airport enhances the appeal of these plots, likely boosting the region’s economic profile and connectivity.
The allocation of these plots will be conducted through a lucky draw, ensuring transparency and fairness for all applicants. This method aims to maintain public trust in the allocation process by eliminating preferential treatment.
YEIDA’s initiative extends beyond merely providing housing; it represents a commitment to structured urban planning and development. By offering affordable residential plots, YEIDA aims to mitigate urban sprawl, promoting denser and more organized development which can lead to improved infrastructure and community services. The plots are located in sectors 17, 18, and 20, areas previously designated for development by YEIDA, reflecting a strategic approach to urban expansion aimed at addressing issues such as congestion and inadequate services.
However, the path to implementing this scheme has not been without challenges. Previous issues, including disputes over land possession in the targeted sectors, have highlighted the complexities involved in large-scale land allocations. Some farmers have resisted relinquishing their land, resulting in legal delays. YEIDA officials assure that the current land designated for this scheme is free of disputes, and they are committed to resolving any remaining issues to ensure swift possession for allottees post-launch.
Beyond the immediate benefits for prospective homeowners, this scheme is expected to impact the broader economic landscape of the area significantly. The influx of new residents will likely drive demand for local goods and services, stimulating local businesses and attracting new investments. For lower middle-class families, the opportunity to own property near a major infrastructure project like the Noida airport could be transformative, enhancing their quality of life and economic status.
By prioritizing accessibility and affordability, YEIDA is setting a new standard for future developments. This initiative not only addresses the urgent need for affordable housing but also establishes a foundation for sustainable urban growth. This forward-thinking approach supports a more balanced urban expansion, benefiting a wider demographic and aligning with India’s rapidly evolving landscape.