The Yamuna Authority’s residential plot scheme has received RERA registration, paving the way for its launch. This scheme, which had been stalled for several months due to objections raised by RERA, is now set to commence following the Board meeting.
The Uttar Pradesh Real Estate Regulatory Authority (RERA) has officially registered the Yamuna Authority’s residential plot scheme. The Authority is scheduled to launch this plot scheme subsequent to the Board meeting concerning the financial budget.
This plot scheme of the Authority had been stalled for several months due to objections raised by RERA. Following the draw for the plot scheme, YEIDA will, for the first time, execute a ‘Lease-to-Agreement’ in favor of the allottees.
The final ‘Lease Deed’ will be executed prior to the handover of possession. The Yamuna Authority had decided to launch a scheme for 973 plots before the end of 2025. RERA registration is mandatory before launching any plot scheme. The Authority had applied for the registration of the scheme, but RERA had raised certain objections.
The Authority had resolved most of the objections; however, reaching a consensus on the condition regarding the ‘Lease-to-Agreement’ took a considerable amount of time.
YEIDA requested registration by accepting this specific condition imposed by RERA; consequently, the scheme has now been registered.
YEIDA CEO Rakesh Kumar Singh stated that the residential plot scheme would be launched very soon.
755 Plots to be Allotted Under the General Category
This scheme by the Yamuna Authority comprises a total of 973 plots. Of these, 755 plots will be allotted under the general category. The remaining plots will be reserved for farmers and other specific categories. For the first time, the Authority will be allotting plots in Sector 15C. Additionally, plots will also be allotted in Sectors 18 and 24A.
The plots included in this scheme range in size from 162 square meters to 290 square meters. The highest number of plots 481 fall under the 200-square-meter category, while 476 plots belong to the 162-square-meter category.
Apprehension of Hike in Allotment Rates
YEIDA’s Board meeting is scheduled for March 21. During this meeting, the budget for the upcoming financial year will be approved. YEIDA may also increase allotment rates for the new financial year. This is expected to have an impact on the plot scheme as well, potentially leading to a rise in plot prices.
