by THO
GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) is likely to approve various important proposals in its board meeting to be held on Monday.
The authority may approve the multiple proposals related to a new scheme under which it can allow the property buyers to pay additional 64.7% compensation component in four instalments against their respective property, adopt state government’s new policy on industrial plot allotments, extend validity of map for one year more, development of 16 roads in Yamuna’s urban areas, annual budget and village development among others.
According to the rules, the authority puts forth multiple agendas or proposals from all its departments including land, finance, horticulture, civil, electrical and infrastructure among others before the board consisting of top officials including chairman, district magistrate, chief executive officer, additional CEOs and others.
This board discusses these proposals on merit and demerits basis in great detail before approving the same, said officials.
If a proposal is approved by the board, the authority seeks the state government’s final approval on the same, and then takes measures to implement the proposals for the development and maintenance of the civic services in the jurisdiction of the authority.
“The board will discuss all the agenda points and then approve them after thorough deliberations. We hope to discuss and finalise the annual budget 2025-26 for the purpose of implementation of the same at the ground ahead,” said Yeida chief executive officer Arun Vir Singh.
Apartment and plot owners are hopeful that Yeida will decide to allow them paying the hiked land compensation of 64.7% in four parts rather than in a lumpsum manner, said officials, adding that such a decision may influence around 10,000 apartment buyers and 5,000 plot owners.
“The issue is that those flat or plot owners, who bought the property in Yamuna expressway area are not told to pay additional 64.7% hiked land compensation component against their respective property because Yeida is paying this money to farmers. Therefore, Yeida is passing this additional financial burden onto the property allottees including those, who bought industrial plots before 2014,” said a Yeida official aware of the development.
A flat owner or plot owner is asked to pay additional ₹5-12 lakh against their respective property, said officials.
Also, Yeida will consider another decision that will allow it to allot the industrial plot upto the size of 8,000 square metre (sqm) through e-bidding. And the plots above the size of 8,000 sqm will be allotted through interview basis.
