NOIDA: The Yamuna Expressway Industrial Development Authority‘s (YEIDA) board has allowed around 8,000 property buyers to pay for 65% additional farmers’ compensation in four instalments instead of a lumpsum earlier.
The decision was taken at a meeting chaired by principal secretary (industrial development) Alok Kumar on Monday. Apart from allowing the payments to be made in instalments, the board also approved a medical college on 20 acres in Sector 17, adopted a partially uniform industrial plot allotment policy, and addressed delayed constructions across multiple sectors off the Yamuna Expressway.
Officials said property owners must apply by March 31 to participate in the compensation payment plan. If approved, they have to pay the first instalment of 25% within two months.
The remaining dues will be covered in three instalments with gaps of six months between them. Although the board allowed these allottees a two-year timeline to clear their dues, it granted no relief on interest or penalties for late payments.
The board approved the allocation of land for a medical college in Sector 17, with plans to invite applications for the project soon. Another key agenda involved implementing a uniform industrial plot allotment policy that aligns with Noida and Greater Noida authorities. The board agreed to use e-auctions for plots measuring up to 8,000 sqm, and an interview-based approach for bigger land parcels.
The Authority would, however, modify the objective criteria for interview-based allotments. “YEIDA’s development trajectory differs from that in Noida and Greater Noida. So, we need customised parameters for large plot allotments. The revised criteria will be discussed at the next board meeting on March 28,” said YEIDA CEO Arun Vir Singh.
Board members also discussed the long-standing issue of delayed construction. Around 25,000 of 34,000 allottees in sectors 18, 20, 22D, and 24 have taken possession of their plots, but are yet to initiate work on them.
Since the initial three-year deadline for construction is gone, the Authority has granted a nine-month extension, effective from Monday. All constructions must, however, be finished by this year itself.
To boost public transport, the board approved the allocation of 100 electric buses to YEIDA in its sectors. Officials said 500 electric buses would be procured in total, with 300 assigned to Noida Authority, and 100 for Greater Noida and YEIDA each.
YEIDA also plans to introduce 150 more buses to boost connectivity between Noida International Airport and major transit hubs, such as IGI Airport in Delhi, Sarai Kale Khan, and nearby districts like Hapur, Bulandshahr, and Ghaziabad. Additional routes will link essential intercity locations, such as Pari Chowk and Botanical Garden.
“These buses will significantly improve connectivity with the Noida airport, which is set for launch next month,” said CEO Singh.
The repair of 25 roads within YEIDA sectors was also approved at the meeting. Seventeen roads managed by PWD, spanning 32km, will be repaired at a cost of Rs 14.5 crore, while eight roads under rural engineering services (RES), also measuring 32km, will be upgraded for Rs 26 crore.
“These roads are vital for residents and industries in the YEIDA region. So, instead of waiting for their official transfer from PWD and RES, we decided to undertake repairs immediately to improve connectivity,” said Singh.
Land parcels spanning 6,640sqm in sectors 17A and 22E were allotted to develop women’s hostels. The land will be given to the social welfare department at a nominal lease rent of Re 1 per sqm for 90 years.
Noida airport visit
Chief secretary Singh visited Noida airport on Monday and interacted with representatives of various stakeholders. He asked officials of Innova Food Park, World Bank, AISATS, the airport concessionaire, Noida International Airport Limited to discuss the establishment of a horticulture-based export hub. He also reviewed key connectivity and utility projects related to the airport.
