Price of those plots ranges from Rs 11 lakh to Rs 6.6 crore and with Film City within the pipeline, it’s anticipating to entice lots of buyers.
“We have applied for the RERA approval on Friday and expecting it to get it in a day or two. There is a lot of demand for plots near the upcoming airport,” mentioned Arun Vir Singh, CEO of the authority.
The authority will allot the plots by the lottery system. Priced at Rs 16,500 per sq. metre the authority expects complete income of Rs 400 crore from the scheme.
“The applicants will get one month time to apply for the scheme and have to pay 10% of the amount. The draw of lot will happen mid-April and we are giving three different payment options to the allottee,” mentioned Singh.
The allottee will pay the whole cash at one go or in ten instalments over the interval of 5 years.
There are 68 plots in 60 metre class, 64 in 90 metre, 117 in 120 metre, 160 in 300 metre, 29 in 500 metre, 75 in 1,000 metre, 16 in 2,000 metre and 11 plots in 4,000 metre.
Authority mentioned that the variety of plots on offer may improve because the authority will embrace surrendered plots as nicely.
After the signing of settlement for the Jewar airport and approval of Film City, the costs for land on Yamuna expressway has elevated.
“We have two integrated townships on the Yamuna expressway and are witnessing a lot of demand for plots by investors. The prices have also increased in the past few months,” mentioned RK Arora, chairman, Supertech Ltd.
Gaurs Group, which even have a built-in township near the airport, has provided possession for flats, plots, retailers and workplace areas.
“The real estate sector faced huge challenge of labor shortage during the lockdown, but we ensured comfortable stay of the laborers at all our sites; this helped us to start work immediately after government allowed construction activities to begin. However, we overcame all the hurdles and used all the resources to ensure timely delivery,” mentioned Manoj Gaur, CMD, Gaurs Group.