Launched in 2009, YEIDA starts registry of residential plots now – ET RealEstate

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GREATER NOIDA: After a gap of 12 years, the Yamuna Expressway Industrial Development Authority (YEIDA) has started the process of executing registry of residential plots in sectors 18 and 20.

Launched in 2009, the pockets and blocks in the two sectors were developed over the past three years. Around 11,000 of 21,000 plots are being readied here and the registry process of more than 7,000 plots has already been initiated. The development work is in the final stages in blocks I and J of Sector 18 as well as blocks A, B, C and D in Sector 20. Work is going on in full swing in blocks R, S, T and U in Sector 20.

But a number of people who have been handed plots after registry are still struggling because of a petition in the Supreme Court. A doctor from Faridabad, who has been awarded a 1,000 sqmt plot in Block C of Sector 20, said, “The Authority has taken from us an enhanced compensation for paying the farmers. I have spent about Rs 74 lakh since 2009 as land premium and interest. However, a petition of the Yamuna Authority against a Allahabad High Court order is pending before the Supreme Court. Till that is decided, there is no way we will be able to start construction work in our block.”

Situated about 15km away from Pari Chowk ahead of Jaypee Sports City, YEIDA has facilitated about 5,500 registries in the two sectors. By March 31, the authority is targeting to execute 2,500 more.

Meanwhile, those representing the association of buyers in the Yamuna region have forwarded a six-point demand to the authority before more registries are carried out.

“The problem is that after the registry is done, an allottee is given three years to complete construction work. After that, penalties are levied for the delay. Farmer issues in C, D, R, S, T and U pockets of Sector 20 are yet to be settled and no construction work can take place till the issues are resolved,” said Safal Suri, a member of the association.

Arun Vir Singh, chief executive officer of YEIDA, said the outcome of the petition was awaited. “But we will soon hold camps to sort out the problems in certain blocks and facilitate physical possession to allottees. We want people to settle down in the Yamuna region at the earliest,” he added.

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YEIDA plans to float new residential plots scheme soon – ET RealEstate

GREATER NOIDA: YEIDA is expected to launch a scheme on Tuesday to cater to the demands of entrepreneurs and industrialists. Besides, a residential plot scheme is also on the cards and could be floated within the next few days.

Officials said that layout and number of plots that will be offered have been finalised. “We were waiting for the Rera registration number to be generated. The scheme will be launched as soon as the registration process and formalities get complete,” said an officer of the authority explaining the reason behind the delay in launch of the scheme.

The industrial scheme will remain open till March 22 and a draw will take place in April, officials said. Officials added that link to apply to the two schemes will be available on the authority’s website.

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Yamuna Expressway development body allocates 1,000 residential plots near Jewar – ET RealEstate

GREATER NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday allocated close to 1,000 residential plots. The Authority is expected to rake in Rs 336 crore through the latest residential scheme. The plots were in a lot of demand since the Authority received as many as 2,452 applications for 1,075 plots.

As expected, the smaller plots generated higher response, while YEIDA had to struggle to find takers for plots measuring over 500 sqm. Being developed along the Yamuna Expressway in sectors 17, 18, 20 and 22D, the plots were floated on August 24.

Conducting the draw of lots at the community centre located in Sector P3 of Greater Noida, the Authority sold off 985 out of the 1,075 plots. YEIDA commands a premium of Rs 16,550 per sqm for residential plots. The plot size ranged between 120 sqm and 4,000 sqm. The smallest plot was worth Rs 19.86 lakh.

YEIDA CEO Arun Vir Singh said, “People who have bought these plots will be able to reach the Jewar airport within 20 minutes. Sector 22D is located behind Buddh International F1 circuit in Dankaur and Electronic City has been planned next to the sector.” The CEO said that the demand for plots has gone up now as the concession agreement for the development of the project has been inked with Zurich AG.

The Authority is identifying the plots which were grabbed in the past schemes but withdrawn by the original owners due to insufficient funds or other reasons.

“A scheme of such leftover plots will be launched soon,” said OSD Shailendra Bhatia.

During the allotment process, it was found that not many people were interested in buying residential plots spread over land parcels measuring more than 500 sqm. The 90 unsold plots are over 500 sqm or more.

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