YEIDA Allottees to Get Lands by June – Buy Property

About 21,000 individual allottees are all set to get the possession of their lands after nearly 7 years which were allotted to them by the Yamuna Expressway Industrial Development Authority.

As per the officials, there was a delay in the possession of lands due to the agitations by the farmers. There are around 77 villages in the region which have been agitating for a hike in the compensation of 64.7% for their lands or areas. The Uttar Pradesh government has directed the Yamuna Expressway Industrial Development Authority to pay the enhanced compensation to the farmers.

Officials reported that they have started the payment of enhanced compensation. And they take it as their priority to hand over the land possession to the allottees. Although, the authorities have already circulated Rs 260 crore to the farmers and have taken the possession of the land in sector 20 of the Yamuna Expressway Industrial Development Authority.They are also planning to take possession of sector -18 within next 30 days which is said to have almost 7,000 allotted lands. The allottees are also asked to cough up extra money for their lands for the authority to pay improved or increased compensation of 64.7% to farmers in the region.

Also, the allottees have been trying really hard to get relief from the extra load. Last year in October, the plot owners got the judicial reprieve from the added burden under the banner of the Yamuna Authority Residential Plot Owner Welfare Association. The association is definitely clear that they want to distribute the compensation to the farmers as well as they are willingly sharing the burden of the farmers.

However, the authorities approached the Allahabad high court seek some relief in the payment plans. The court thus asked YEIDA to sort the issue for which a committee was formed of senior officials who took the final decision on the issue on 22^nd January 2016. Also, as per the sources, the committee would allow the allottees to pay the burden in 8 installments than that of 4. These instalments are said to be interest free and would not have any penalties in case the allottees are not able to pay their dues. Also, the individual allottees are also being asked to give up either Rs 550 or Rs 1,770 per square meter for sharing their burden with Yamuna Expressway Industrial Development Authority.

This is definitely a relieving feeling for the allottees as they would finally get the lands and their long wait will be over. There are around 10,000 allottees who have cleared their first installment which was due on 30^th October, 2015, it is not necessary for them to pay the second installment. However there are around 11,000 allottees who have till now not cleared their 1^st installment. They will now be asked to pay both of the installments together.

Thus, the Property in Noida is coming out to the judicial issues and working back on the schemes that they were made for. It is also adjusting the share of the farmers as they should not be in loss due to these schemes.