The Yamuna Expressway Industrial Development Authority (YEIDA) on June 26 decided to reintroduce its one-time settlement scheme for a month, from August 1, 2023, said officials.
The decision to bring back the policy for the fourth time was taken at its 77th board meeting, following demand from allottees. The aim is to reduce the number of defaulters and the default amount in various schemes of the authority.
The approved rates for land acquisition are Rs 3,100 per square metre (without a residential plot) and Rs 2,728 per square metre (plus a residential plot). The size of the residential plot will be 7 percent of the farm’s area.
This time, the dues to be paid will comprise the default amount and the instalments due, from which only the penal interest will be waived. If this amount is up to Rs 50 lakh, the entire amount will have to be deposited within 60 days from the date of dispatch of the demand letter. If the amount payable is more than Rs 50 lakh, the entire amount will have to be deposited within 90 days.
Jewar land acquisition
The Authority also admitted to facing difficulties in acquiring land from farmers near the upcoming Noida International Airport due to differences over the compensation rate.
Also Read: YEIDA doubles allocation for Jewar airport to Rs 805 crore
The land is to be developed by the YEIDA for industrial, commercial, and residential allotment in the region along the Yamuna Expressway’s upcoming sectors 17, 17A, 18, 20, 22D, 22E, 24, etc, it said in a statement after its board meeting held in Greater Noida.
The YEIDA said that in the last board meeting on February 20 this year, a proposal for the acquisition of land in industrial sectors adjacent to Noida International Airport — such as sectors 21, 28, 29, 32, 33, 10, and 09 — was approved. The acquisition of 500 metres of land towards the north, east, and west of the airport for the construction of a peripheral road and to check encroachment was also approved.
The approved rates for land acquisition were Rs 3,100 per square metre (including ex gratia, annuity and seven per cent population plot amount) or Rs 2,728 per square metre (including ex gratia and annuity) along with seven per cent developed plot, it said.
But the farmers are not happy with this, and are demanding a uniform, higher rate. However, they have not indicated the figure yet.
“The Board has directed the YEIDA to refer a relevant proposal to the government in this regard. Further action will be taken on this after approval or no objection from the government,” the statement added.
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