Yeida set to bring affordable housing scheme for the EWS

Yeida plans to launch an affordable housing scheme with 3,000 plots for economically weaker sections near Noida airport, priced at ₹7.5 lakh each.

GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) on Monday said it has decided to launch a plot scheme in the affordable housing category, offering an opportunity for economically weaker sections of society.

Under the affordable housing scheme at least 3,000 plots measuring 30 square metre (sqm) will be offered in sectors 18 and 20 near Noida international airport. (HT Photos)

Under the scheme, to be launched after seeking approvals from Yeida board on June 18, at least 3,000 plots measuring 30 square metre (sqm) will be offered in sectors 18 and 20 near Noida international airport that is coming up in the Jewar region, said officials.

The scheme is meant for factory workers of the area and those with an annual income of ₹3 lakh, they added.

“We have decided to launch the scheme keeping in mind the demand in this area that is becoming home to new industrial and other projects. Many domestic and global investors are investing in this region, and are setting up their units thereby creating the demand for the housing facilities for workers, who are or will be employed in the units in the catchment area of Noida airport, along the Yamuna Expressway. Keeping in mind the needs of the economically weaker sections, we will offer the plots of 30sqm in size,” said Yeida chief executive officer (CEO) Arun Vir Singh.

Yeida has fixed the cost of the 30 sqm plot at ₹7.5 lakh. A successful applicant can pay in instalments up to seven years. The authority will reserve 29% of these plots for those who work in projects located in “Yeida area”, 5% will be reserved for retired defence personnel, and 5% will be reserved for Yeida employees, said officials.

“We will offer at least 8,000 plots of 30sqm so that the EWS category applicants can get the opportunity to build their home near to the Noida airport. We have decided to come up with this scheme to cater to the service sector segment including factory worker, security guard and domestic help, who are essential part of the urban centres,” said a Yeida official aware of the development.

Once approved during the board meeting, Yeida will decide the launch date including other details related to it.

“We may add even more plots into this scheme if things will work out because we need to provide more opportunities to the EWS people,” said Singh. These plots will be allotted through lucky draw, and the applicant will pay 10% of the total plot cost to be eligible for the lucky draw,” said officials.