The Yamuna Expressway industrial development authority (Yeida) selected Monday to acquire 3,340 acres of land for deliberate development and to give defaulting allottees extra time to pay monetary dues with out penal curiosity. It permitted a proposal on these two crucial points and different initiatives at its 77th board assembly, which was held in Higher Noida’s sector Omega 1 administrative workplace.
“We’ve determined to acquire 3,340 acres of land in the subsequent one to two years for deliberate development in areas the place we have now earmarked land for completely different industrial, infrastructure and different initiatives. We’ll start buying this land by means of direct purchases from the farmers as soon as the Uttar Pradesh authorities finalises the charges for the identical, as we have now sought state authorities approval for charges that align with the farmers’ calls for in the area. The board has additionally determined to implement a one-time settlement scheme for defaulter allottees for the fourth time to profit allottees and acquire income,” mentioned Arun Vir Singh, chief govt officer of Yeida.
Presently, Yeida presents a fee of ₹3,100 per sq. metre, in addition to 7% of complete acquired land for farmers’ residential use. Nonetheless, farmers are dissatisfied with this fee. Because of this, Yeida has requested the ultimate charges from the state authorities to appease farmers and safe the land for the deliberate development.
“As soon as the charges are finalised, we are going to search farmer assist and begin shopping for the land wanted for our initiatives,” mentioned Singh.
In accordance to the board, Yeida has determined to buy 820 acres of land in sector 9, 800 acres in sector 11 and 1,720 acres in Tappal-Bajna, the place Yeida plans to construct an city centre alongside the Yamuna Expressway.
With work on the Noida airport at Jewar continuing on monitor, the land mafia has been busy growing unlawful housing, business or different initiatives interfering with deliberate development, mentioned officers with data of the matter. In accordance to officers, Yeida needs to acquire the land as quickly as potential in order that its deliberate schemes aren’t disturbed.
As well as, Yeida has determined to challenge a one-time settlement scheme for at the very least 9,812 defaulter property allottees, who collectively owe ₹4,439 crore on their respective properties. These properties embody plots, flats and retailers, amongst others.
“Beneath the one-time settlement scheme, we are going to waive the penal curiosity and acquire the principal quantity from allottees. The board has determined to run the scheme for the fourth time as a result of many allottees have but to pay their monetary dues,” mentioned Singh.
Yeida will provide the one-time settlement starting August 1, 2023 for a restricted time, mentioned officers.
“If an allottee has monetary dues of lower than ₹50 lakh, they have to clear the dues inside 60 days, failing which they’ll have to pay penal curiosity, too. If dues are greater than ₹50 lakh, then the allottee should clear dues inside 90 days,” mentioned Singh.