YEIDA allottees to pay more for addl compensation to farmers

In what would come as bad news for the allottees of Yamuna Expressway Industrial Development Authority (YEIDA), its 51st board meeting today decided to pay farmers 64.7 per cent increased compensation and pass on the burden to them.

While Noida and Greater Noida farmers were getting 64.7 per cent compensation and 10 per cent developed land as per an Allahabad High Court direction, YEIDA farmers were denied the same as their cases were still pending in high court.

The state government had given its approval for payment of the increased amount as ‘no-litigation bonus’.

‘Today, YEIDA board approved the payment of no-litigation bonus of 64.7 per cent. However, farmers will have to withdraw court cases and give affidavits that they will not move court in future and will also not stop development work.

‘YEIDA will require Rs 5,245 crore for the payment to farmers,’ said YEIDA Chief Executive Officer, PC Gupta. ‘To compensate the loss, the burden will be passed on to allottees... 21,000 Residential Scheme, 2009, allottees will have to pay Rs 1,330 per sq.m.; 300 sq.m plot allottees will have to pay Rs 3.99 lakh; 500 sq.m allottees Rs 6.65 lakh and 1,000 sq.m allottees Rs 13.30 lakh,’ Gupta said.