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Plots near Noida airport at cheap rates? YEIDA warns buyers, goes to cops, Real Estate News, ET RealEstate

Plots near Noida airport at cheap rates? YEIDA warns buyers, goes to cops, Real Estate News, ET RealEstate
GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has lodged a police complaint against real estate agents who have been trying to fraudulently sell plots off the Yamuna Expressway by cashing in on the Noida airport and other infrastructure projects coming up in the region.

Officials said most of the advertisements that offered YEIDA-notified land at runaway rates were posted on social media and were attracting buyers from far and wide. On Thursday, YEIDA submitted screenshots of these ads to the police and asked buyers not to fall for such tall claims.

“From the time the Noida airport project has gained pace, several real estate agents have become active on YouTube, Twitter and Facebook. They have been luring buyers by offering residential and industrial plots at throwaway rates in Jewar area. We advise people to visit our website to find out the actual status of the schemes rather than falling prey for such illegitimate claims by real estate brokers and agents,” said Arun Vir Singh, the YEIDA CEO.

Officials said some of these ads also had the YEIDA logo on them. “A man has put up a Facebook post to suggest he is selling Authority plots. The money he demanded ranged between Rs 5,000 and Rs 1 lakh,” said an official.

As land along the Yamuna Expressway and across 96 villages in Jewar and Greater Noida is notified under YEIDA, there is no scope for private schemes — be it industrial or residential — in the region.

The reserve rate of an industrial plot in YEIDA is Rs 6,670 per sqmt at present. Land sharks, however, have been offering plots at dirt cheap rates.

UB Singh, the station house officer of Jewar police station, said, “We have already taken action against some of these agents. No private plotting scheme is allowed on notified land. We have asked YEIDA to put up warning boards at prominent places.”

The officer added that most of those who fell for such ads were not local residents. “They hurriedly paid the booking amount, thinking they will miss out on the opportunity. We have shared the details of the active online pages with the cyber team. They will take further action,” Singh said.

A man whose agency had floated such an ad identified himself as Manoj Sharma. “I am not sure what creative ad has been posted by my team. We are secondary market players and offer plots that had been allocated by the Authority to people in the past,” he said.


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