Owners of plots are requesting a timeline from YEIDA for handover
Real Estate

Owners of plots are requesting a timeline from YEIDA for handover

After receiving letters from YEIDA demanding payment of a pending amount, the Yamuna Expressway Entrepreneurs Association has requested a timeline for physical possession of industrial plots.

Association president Tejveer Rana said that the majority of allottees have paid 60 to 70% of their dues, while some have paid the entire amount, and were promised plot delivery within three years, but it has now been more than six years. They are willing to pay the full amount but have requested that YEIDA provide a timeline for possession. The authority hasn't given us a deadline for receiving the plots that have been developed.

Industrial plot schemes were launched by YEIDA in 2013 and 2014, but the draw was postponed for the next two years. Around 800 industrial allottees who were awarded plots in sectors 32 and 33 received letters in August 2015. On October 27, the authority announced a one-time settlement scheme, and officials began contacting allottees to collect their final dues.

Arun Vir Singh, the Authority's CEO, said that possession has already been offered.

Singh said that in some areas, development work is underway.

They will be ready in a few months as well. Allottees, on the other hand, must pay on time.

The allottees who were awarded plots in the two sectors must pay YEIDA about Rs 208 crore. The association filed a petition in the Allahabad high court in November 2019 challenging the authority's demand for additional compensation payments for farmers. Even though the plots were initially offered at Rs 5,500 per sq m, YEIDA later demanded an additional Rs 600.

Image Source

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

After receiving letters from YEIDA demanding payment of a pending amount, the Yamuna Expressway Entrepreneurs Association has requested a timeline for physical possession of industrial plots. Association president Tejveer Rana said that the majority of allottees have paid 60 to 70% of their dues, while some have paid the entire amount, and were promised plot delivery within three years, but it has now been more than six years. They are willing to pay the full amount but have requested that YEIDA provide a timeline for possession. The authority hasn't given us a deadline for receiving the plots that have been developed. Industrial plot schemes were launched by YEIDA in 2013 and 2014, but the draw was postponed for the next two years. Around 800 industrial allottees who were awarded plots in sectors 32 and 33 received letters in August 2015. On October 27, the authority announced a one-time settlement scheme, and officials began contacting allottees to collect their final dues. Arun Vir Singh, the Authority's CEO, said that possession has already been offered. Singh said that in some areas, development work is underway. They will be ready in a few months as well. Allottees, on the other hand, must pay on time. The allottees who were awarded plots in the two sectors must pay YEIDA about Rs 208 crore. The association filed a petition in the Allahabad high court in November 2019 challenging the authority's demand for additional compensation payments for farmers. Even though the plots were initially offered at Rs 5,500 per sq m, YEIDA later demanded an additional Rs 600. Image Source

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000