Yeida Scheme 2009: Authority To Start Handing Over 11,000 Plots In March

Yeida Scheme 2009: Authority To Start Handing Over 11,000 Plots In March

Yeida Scheme 2009: Authority To Start Handing Over 11,000 Plots In March
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Those who applied for plots in the Yamuna Expressway Industrial Development Authority’s (Yeida) Residential Plot Scheme in 2009 were a disappointment lot, considering the authority failed to allot the land parcels in the past nine years. Most of the buyers had already paid over 90 per cent of the land value. While furious buyers kept seeking relief, the Yeida maintained that the delay was because of the farmer protests ─ farmers of about 77 villages had been agitating for a hiked compensation of up to 64.7 per cent.

While it has already handed over a total of 4,317 plots till October last year out of 14,453 plots that were offered under the scheme, it now plans to deliver the remaining residential plots in two tranches. The Yeida will give possession letters to 5,500 allottees of such plots by March 31, and another 4,500 possession letters will be given by June 30. The authority will waive all default interest and penalty over payments because of the possession delay – all plots were to be handed over by 2014.

While 6,910 plots are located at Sector 18, the remaining 7,543 are in Sector 20. Trend watchers have noted that the price of these residential plots in these locations has grown threefold since 2009. The circle rate in 2018 is Rs 15,500 per square metre (sqm) while it hadn't crossed the Rs 5,000-per-sqm mark in 2009. These plots vary in size, measuring between 1,292 square foot (sqf) and 43,000 sqf.

Under the 2009 scheme, the authority planned to sell residential plots measuring 200 sqm, 300 sqm and 1,000 sqm. At that time, plots were handed over for Rs 4,750 per sqm. The Yeida is now busy working on the infrastructure development of these localities.

Last Updated: Thu Jan 17 2019

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