Noida: Plot allottees relieved, Yeida waives off interest for three years | noida | Hindustan Times
Today in New Delhi, India
Nov 20, 2017-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Noida: Plot allottees relieved, Yeida waives off interest for three years

The authority had launched the plot scheme in 2009 at a cost of Rs4,750 per square metre (sqm). The plots ranged from 300 sqm to 4,000 sqm in area.

noida Updated: Sep 04, 2017 21:57 IST
Vinod Rajput
The Yamuna Expressway industrial development authority (YEIDA).
The Yamuna Expressway industrial development authority (YEIDA).(HT File)

In a major relief to 21,000 plot allottees, the Yamuna Expressway industrial development authority (Yeida), on Monday decided not to impose any penalty on those allottees who did not pay the remaining plot cost between November 2013 and November 2016.

The authority had in 2009 allotted 21,000 residential plots in sectors 18 and 20 along 165 km long Yamuna Expressway. It was supposed to give possession by 2013, but failed to do so as around 600 farmers had filed cases in the Allahabad high court, challenging the land acquisition. These cases are still pending.

“Since we failed to give possession by November 2013 as per promises made to the plot allottees, we have decided to give relief to our consumers. We have declared zero period from November 2013 to November 2016. It means in these three years, allottee will not have to pay penalty or instalments to the authority. Now the plot allottee will pay remaining plot cost either by November 2019 or when the authority will offer possession,” said Dr Prabhat Kumar, chairman of the Yeida.

The authority had launched the plot scheme in 2009 at a cost of Rs4,750 per square metre (sqm). The plots ranged from 300 sqm to 4,000 sqm in area.

Yeida charges Rs 30 interest per day on the defaulted amount.

The authority had allotted the plots through a lucky draw in 2009. YEIDA had given possession to 55 allottees in January 2017. Since then it could not give possession to other allottees due to litigation.

“We hope that we will offer possession to the allottee as soon as the court cases get over. Allottee can pay remaining plot cost either when we offer them possession or November 2019,” said Kumar.

Plot allottees are happy with the decision.

“This is the first time that the Yamuna Expressway authority has provided some relief to us. It was long overdue because it is the fault of the government, not allottees. It is a big relief to us. Now we can pay remaining plot dues on possession or 2019 whichever comes first,” said Alok Singh, a plot allottee.