YEIDA approves to sell Jaypee builder's land

Greater Noida: Yamuna Expressway Industrial Development Authority (YEIDA) Chairman Dr. Prabhat Kumar on Monday said that the authority has approved the proposal to sell Jaypee builder's land, allotted in Sector 25 along the Yamuna Expressway, to recover its Rs 2,889 crore dues on the builder.

"As the builder has failed to pay the dues to the authority and has also ignored several notices issued in the past, we have decided to sell the property of the builder through an agency.

"The authority has also decided to cancel the land allotment to Jaypee Infratech builder to help homebuyers in getting their refund," Kumar said during YEIDA's 61th board meeting.

"Jaypee builder's housing schemes like Jaypee UDAAN, Buddha Circuit, Yamuna Vihar and many more have been scraped by the group. The builder has been given a deadline of October 31, 2017 to return money to the homebuyers. If he fails to do so, we would start returning the money of buyers by selling his property through an agency," he added.

YEIDA also announced some more schemes keeping in mind the interest of homebuyers who have invested in the 2009 residential plots scheme under YEIDA.

"The authority has also revised the 2009 residential plots scheme under which the three years tenure from 2013 to 2016 has been declared as Zero Period. The 21,000 allottees under the scheme will now get an extended time limit till 2019 to submit the amount for their plots".

Kumar said that the authority is planning to develop the rural sector that falls under YEIDA.

"We are planning to develop 80 villages that fall under YEIDA in the best possible way. These villages will be developed as smart villages and will be merged into cities. Opportunities like jobs, better standard of living, will be provided in these villages."