YEIDA rejects proposal to increase toll tax at Yamuna Expressway

Greater Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) on Tuesday rejected the proposal to increase the toll at 165-km long Yamuna Expressway. The authority said that it stands by its decision to continue the same toll rates, until and unless the concessionaire agrees to and fulfil their guidelines.

"We have rejected the proposal to increase the toll rates at Yamuna Expressway. For making a hike in toll rates, the JAYPEE builder's group must open an Escrow account with the authority and the hiked amount which will be collected must be used to increase the safety at E-way. As of now, the Jaypee group has not agreed to our terms and conditions following which we have rejected their proposal," said Prabhat Kumar, Chairman, YEIDA.

The decision was taken in the authority's 64th Board meeting held on Tuesday. Among other major decisions taken, the authority has decided to open up 7 petrol pumps and 12 hotels along the Yamuna Expressway to benefit commuters and the people living in the vicinity.

"The authority has marked sector-18 and sector-20 areas along the Yamuna Expressway where we are developing residential sectors. Till now, we have given possession to around 4,700 allotees while around 5,000 plots in sector 18 and 20 will be allotted by December. Four petrol pumps will be opened in these sectors while the authority will earmark land to open hotels in sector 29 along the Yamuna Expressway," added Kumar.

Further detailing the progress of Jewar International Airport, Kumar said that the basic formalities for the project have been cleared by the government while few other formalities are near to get fulfilled.

"The bidding and agreement of concession with the private partner have been cleared by the project monitoring and implementation committee and soon it is expected to get approved by the government. Once we get the approval, we will float bids for the construction of Jewar airport," said Kumar.

The YEIDA board also decided to grant Jaypee builder a final one month's time to clear their debts, else the authority will initiate legal and strict actions against the builder's group.

"The Jaypee builder's group owes Rs 108 crore to the authority against 1,000 hectare of land allotted for the construction Formula One circuit and Jaypee sports city. The authority had relieved the builder and made re-schedulement of the amount but the builder failed to pay the instalments. We have given a final one month's time to clear the debts or we will initiate strict actions against them," Kumar added.

Apart from these, the authority also freezed the circle rates in their upcoming plots scheme till March 2019.