YEIDA Introduces Affordable Housing Initiative for Economically Weaker Sections

New Housing Scheme Announcement

On Monday, the Yamuna Expressway Industrial Development Authority (YEIDA) revealed plans to initiate a new plot scheme aimed at affordable housing. This initiative is designed to assist economically weaker sections in securing land for home construction. The official launch is contingent upon the YEIDA board's approval, expected on June 18. Officials indicated that approximately 3,000 plots, each measuring 30 square meters, will be available in Sectors 18 and 20, situated in the Jewar region near the Noida International Airport.

Target Audience and Pricing

According to YEIDA CEO Arun Vir Singh, this scheme primarily targets factory workers and individuals with an annual income of up to Rs 3 lakh. He emphasized that the area is evolving into an industrial hub, leading to increased employment opportunities and a corresponding demand for housing among workers. To address this need, the scheme has been thoughtfully developed.

Singh further explained that the plots will be limited to 30 square meters to cater specifically to the economically weaker population. The price for each plot has been set at Rs 7.5 lakh, which applicants can pay in installments over a period of up to seven years.

Reservation and Accessibility

Officials noted that 29% of the total plots will be allocated to employees working on projects within the YEIDA jurisdiction, while 5% will be reserved for retired military personnel and another 5% for YEIDA employees.

In total, more than 8,000 plots are planned for release, ensuring that a larger number of individuals from the economically weaker section have the chance to construct their homes near the Noida Airport. This scheme is particularly tailored for those in the service sector, including factory workers, security personnel, and domestic helpers, who are vital to the city's growth.