At the board meeting, Yeida is probably going to endorse important ideas

By Bricksnwall | 2025-03-03

Following board acceptance, the authority looks for final state government approval before putting the project into action.

GREATER NOIDA: At its board meeting on Monday, the Yamuna Expressway Industrial Development Authority (Yeida) is expected to accept a number of significant projects.

The state government's new policy on industrial plot allocations, the extension of the map's validity for an additional year, the construction of 16 roads in Yamuna's urban areas, the annual budget, and village development are just a few of the proposals that the authority may approve. Another proposal is a new scheme that would allow property buyers to pay an additional 64.7% compensation component in four installments against their respective properties.

As per the regulations, the authority presents a number of agendas or proposals to the board, which is composed of high-ranking officials such as the chairman, district magistrate, chief executive officer, additional CEOs, and representatives from all of its departments, including land, finance, horticulture, civil, electrical, and infrastructure.

Once a proposal has been approved by the board, the authority moves to execute it for the development and upkeep of the civic services under its control after obtaining final permission from the state government.

"After careful consideration, the board will approve all of the agenda items after discussing them. In order to implement the yearly budget for 2025–2026 on the ground, we intend to discuss and finalize it," stated Arun Vir Singh, CEO of Yeida.

Approximately 10,000 apartment buyers and 5,000 plot owners may be impacted by Yeida's decision to permit them to pay the increased land compensation of 64.7% in four installments rather than in one lump payment, officials said.

The problem is that while Yeida is giving this money to farmers, those who purchased apartments or plots in the Yamuna Expressway area are not required to pay an extra 64.7% raised land compensation component against their own properties. Therefore, a Yeida official who is aware of the development stated, "Yeida is passing this additional financial burden onto the property allottees, including those who bought industrial plots before 2014."

According to officials, owners of plots or apartments are required to pay an extra ₹5–12 lakh against their individual properties.

Yeida will also take into account a different choice that would enable it to use e-bidding to distribute the industrial plot up to 8,000 square meters (sqm). Additionally, plots larger than 8,000 square meters will be assigned based on interviews.

Source: Hindustan Times