After four-year delay, YEIDA to hand over 5,000 residential plots in December

The Yamuna Expressway Industrial Development Authority (YEIDA) will hand over 5,008 residential plots in December this year, four years after it was supposed to be delivered. An additional 5,128 plots will be delivered by March 2019. A total of 14,453 such plots having sizes of 200sqm, 300sqm and 1,000sqm were cleared for allotment under the Residential Plot Scheme 1 (RPS 1) in 2009 in YEIDA sectors 18 and 20 out of a total of 22,532 plots. But these got stuck in 2009 due to farmer disputes and litigation, and were finally cleared this year. “We have already started handing over of possession of residential plots. A total of 4,317 allottees took possession of their plots in October. In addition to this, 5,008 plots will be handed over in December this year. Due to delay following farmers’ dispute and litigation on the plots till now, the authority has given zero period to allottees and sent adjusted demand to them,” said YEIDA chief Arun Veer Singh. What this means is that since possession was scheduled to be handed over in 2014 but was delayed, the Authority has waived off all default interest and penal interest for the last three years. “Simply put, all such plots will not be levied any default, delayed or penal interest for the last three years,” Singh said. According to YEIDA officials, the cost of land has grown three times from the original allotment rate of Rs 4,750 per sqm in 2009 to Rs 15,500 per sqm at present, but the new rates do not apply to original allottees. “Allotment rate has remained at Rs 4,750 per sqm for these plots. We have also waived off delayed payment interest and penal interest for the last three years, which amounts approximately Rs 380 crore,” Singh said. Work is underway on providing basic infrastructure to the allottees, including demarcation of residential plots and construction of roads, sewer and drainage systems, officials said.