YEIDA Scheme Extended till 15th May,2009
(This article has been further updated on 4th October,2009 )
The notice says that the Scheme has been extended till 15th May,2009 due to demand from Public. However, things don’t look that rosy. The Scheme has not been able to muster good response from investors as expected by the Yamuna Expressway Authority (previously known as Taj Express Way).
About Yamuna Expressway Residential Plot Scheme
These residential plots will be developed along under construction Noida-to-Agra Yamuna Expressway. The proposed site / sector is about five minutes drive from the proposed Formula One Racetrack . The land on which the plots would be developed is under the process of acquisition.
Details of Plots is as under
|Category||Size (Sq. Mtr)||No. of Plots||Gen. Cat.||Farmer Cat.||Registration Amount|
The rate of the land of the residential plots under this scheme is Rs. 4,750 per sq. mtr. The tentative date of draw is 10th August,2009.
Why did the Scheme failed in getting Response ?
- With the current downtrend in Real estate prices, investors are worried about the returns from the Scheme
- The Rate of Rs. 4,750 per Sq. Mtr. is considered to be aggressive given that the Scheme may take at least 8-10 years to develop.
- Investors have doubts about the progress on the proposed Noida - Agra Expressway itself and any dealy on this project would also delay development under the Scheme.
- The Agra Noida area is more prone to petty crimes and hence reduce the attractiveness of the scheme from Safety point of view.
Update on YEIDA Residential Scheme 2009 Draw
As per the Public Notice issued by the Yamuna Expressway Industrial Development Authority, the draw for YEIDA residential Scheme 2009(1) will be held on 14th October,2009 and 17th November,2009.
- Draw for All Types (A,B,C,D & E) of Farmer Categories of Plot and General Category A-4000 Sq. Mtr, B-2000 Sq. Mtr. and C-1000 Sq. Mtr. will be held on 14th October,2009 at Community Center, Sector Delta-II Greater Noida at 10:00 AM. This will be a Manual Draw.
- Draw for Category D-500 Sq. Mtr. and Category E-300 Sq. Mtr. will be held on 17th November,2009 at India Expo Mart, Greater Noida at 10:00AM. This will be a computerised draw.
Details of Eligible Applicants (whose application will be considered for draw) will be posted on the YEIDA Website from 5th October,2009. Click here to check your Application Status.