Yeida plot buyers to pay enhancements in eight installments | noida | Hindustan Times
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Yeida plot buyers to pay enhancements in eight installments

noida Updated: Mar 16, 2016 01:23 IST
Dhananjay Jha
Yamuna Expressway industrial development authority

In October 2015, the high court had directed Yeida to call a meeting with buyers to address their concerns.

In a major relief to 21,000 plot buyers, the board of the Yamuna Expressway industrial development authority (Yeida), in its meeting on Monday, approved the proposal allowing buyers to pay the required additional amount for their plots in eight instalments instead of the earlier four. Yeida had sent notices of enhancements to all plot buyers in August to pay their dues in four instalments. It had also levied a 14% interest on defaulters.

Yeida had asked the buyers to pay enhancements at the rate of Rs. 1,330 per square metre for residential and Rs. 1,750 per sqm for commercial plots that were purchased five to six years ago. The farmers whose land had been acquired were not happy with the compensation and had gone to court for more. An Allahabad high court order to this effect had necessitated the need for enhanced compensation.

“To compensate the farmers whose lands authority acquired for allotment of plots, we have asked the buyers to pay additional amount or enhancements on the orders of the Allahabad high court,” said Arun Vir Singh, chief executive officer (CEO), Yeida.

“The board has decided to consider buyers’ request of eight instalments instead of four and all interests have been waived off. The notice was effective from October 19, 2015, and now buyers can pay their first instalments at the earliest without interest,” said Singh, adding that possession of the plots would be granted soon.

Last October, the Yamuna Expressway Residential Plot Owners Welfare Association (Yerpowa), which is a representative body of the buyers, had filed a petition in the Allahabad high court seeking relief in mode of payments of enhancements. On October 26, the high court had directed Yeida to call a meeting with buyers to redress their grievances.

“We had approached the high court for relief in the form of paying enhancements in eight instalments. Yeida has granted that after its board meeting. Now we want possession of our plots, for which we have been waiting for two years. We still do not see any hope of possession as some farmers have now moved the high court seeking quashing of the land acquisition altogether. Till this matter is disposed of we will have to wait indefinitely,” said Safal Suri, president, Yerpowa.

“Three meetings have been held between the buyers and Yeida since then (October 26) and the board has finally approved it now. However, our relief is only partial. We are still waiting for the farmers’ issue to be resolved so that we can get possession of plots,” said Harpreet Singh, joint secretary, Yerpowa.