YEIDA rolls out Rs 4,156.13 crore keeping farmers, homebuyers in mind

A plot-buyers and village friendly budget has been announced by Yamuna Expressway Industrial Development Authority (YEIDA) on Friday and has cleared a budget of Rs 4,156.13 crore, out of which they have raised the budget for land acquisition alone from Rs 205 crore (2016-17) to Rs1,190.02 crore.

"We have given a concession of 1.65 percent in the interest rates. Earlier it was 12 percent which has now been reduced to 10.35 percent. Apart from this, a lot of other concessions have been offered directly to buyers. We have waived all the charges such as water charge, sewer charge, ramp charge, electricity charge etc. The beneficiaries account to over one and half lakh allottees," said Arun Vir Singh, Chief Executive Officer (CEO), YEIDA.

"We have also waived off the penal charge. Buyers have also been offered a provision to withdraw at any time from the scheme and take back their money at 6 percent interest," Singh added.

The board has also raised the funds for the development of rural areas. The budget has been raised from Rs 10.76 crore to Rs 61.02 crore.

"In order to remove the rural-urban gap, we are also planning to make RWA's and sectors in villages. The width of roads in villages will also be expanded to match as that of our cities. We will also develop park and facilities in these villages. We have decided to upgrade all the electrification in the villages with the use of solar and LED lights," Singh said.

Similar to Greater Noida Industrial Development Authority, YEIDA has also decided not to increase the land rates for the year 2017-18. The board has also decided to revise the payment plans for future housing and industrial projects which are be kept as it is, reserved price will be 10 percent, allotment rate will be 30 percent and rest 60 percent will be allowed to be deposited in 16 annual installments over a period of eight years.

The 60th board meeting of YEIDA was chaired by Greater Noida Authority Chairman Dr Prabhat Kumar and was attended by all senior officials of YEIDA, including CEO Arun Vir Singh.