To address the demand for residential plots close to the upcoming Noida International Airport, a new scheme may be announced by YEIDA in the upcoming financial year.
As the demand for residential plots near the upcoming Noida International Airport increases, the Yamuna Expressway Industrial Development Authority (YEIDA) is expected to introduce a new housing plot scheme in the next financial year, according to a senior official from YEIDA, as reported by HT.com.
Under the proposed scheme, residential plots may be made available in Sector 18, off the Yamuna Expressway. The launch of this scheme is expected after the authorities notify it and the registration process with the Uttar Pradesh Real Estate Regulatory Authority (RERA) is completed.
YEIDA introduced two residential plot schemes in 2024. The first scheme, launched in July, featured 361 plots and garnered over 2 lakh applications. The second scheme, which was announced in November, included 451 plots and attracted more than 1 lakh applications.
The latest scheme will be the third housing plots scheme by YEIDA.
Uttar Pradesh Chief Minister Yogi Adityanath announced in December 2024 that Prime Minister Narendra Modi would inaugurate the Noida International Airport in Jewar, emphasising that the airport is expected to commence operations by April 2025.
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In July 2024, the Yamuna Expressway Industrial Development Authority (YEIDA) launched a scheme for 361 plots across four sectors—16, 18, 20, and 22D—attracting over 2 lakh applicants for plots situated near the Noida International Airport in Jewar. Subsequently, in November, YEIDA introduced another scheme that provided approximately 451 residential plots close to the Jewar airport, specifically located in Sector 24A.
Additionally, in November, YEIDA announced a scheme for group housing plots within YEIDA city. This scheme included 20 group housing plots and closed on December 18, 2024. The plots were distributed across sectors 22D (9 plots), 18 (6 plots), and 17 (5 plots). Real estate analysts expect that around 25,000 to 30,000 housing units could be developed on these plots once they are allocated.
Jewar’s real estate market is rapidly evolving, with the sleepy hamlet along the Yamuna Expressway emerging as one of the fastest-growing micro-markets in the country. A report from Colliers India indicates that land prices in this region have surged by 40% over the last five years, with projections suggesting a further increase of 50% by 2030.
Since 2018, when work on the Noida International Airport speeded up, there has been a significant surge in land prices. Industry sources indicate that the cost of 1 hectare of land in the area, which was previously valued at Rs 25-28 lakh in 2018, has escalated to Rs 1.25-1.5 crore by mid-2024, representing an increase of over 400% within a span of six years.
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Real estate consultancy Colliers India has indicated in its report titled ‘Infrastructure & Mega Projects—The Key Enablers of Urban Expansion in India’ that land values in Jewar township are projected to increase by 50% by the year 2030.
“Jewar is a small town located along Yamuna-Expressway. It is rapidly transforming into a prominent investment destination with a combination of strategic infrastructure, industrial expansion and robust government initiatives,” the report said.
“The upcoming Jewar airport is the biggest catalyst for urbanisation in Uttar Pradesh. Its strategic location along the newly built Yamuna Expressway, connecting the urban centres of Delhi, Noida and Agra, is a distinct advantage,” Colliers India added.
Initiatives such as YEIDA, International Film City, and Metro Line expansion have not just had a major impact on land prices but also accelerated Jewar’s growth as a township.
“These initiatives have contributed to a land price appreciation of nearly 1.4x in the last five years from ₹5,000 to ₹7,000 per sq ft (2020-2024),” Colliers said, adding that the land prices are estimated to rise further to ₹10,482 per square feet by 2030.
The area around the Jewar airport is witnessing a surge in demand not only for land parcels but also among investors and homebuyers, prompting realtors to become actively involved. Several major residential projects are nearing completion, with numerous new developments on the horizon, which is expected to drive prices higher in the region. Notable projects include Nimbus Realty and the Gulshan Group, which, in collaboration with the Jaypee Group, is developing a luxury residential project along the expressway that spans 1.5 million square feet.
