NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has declined to extend the deadline for its one-time settlement (OTS) scheme. As a result, approximately 7,200 plot allottees who defaulted are at risk of recovery actions unless they settle their dues by February 28.
This decision was made during YEIDA’s 88th board meeting on Friday, presided over by Chairman Alok Kumar, who is also the additional chief secretary for industrial development. Officials noted that YEIDA has previously conducted the OTS scheme seven times, and the latest opportunity, which commenced on December 1, is the final one. Of the total outstanding dues of about Rs 4,950 crore, only 117 defaulters have applied, a response the board considers significantly lacking.
In another important development, the board sanctioned the allocation of six acres in Sector 34 for a model composite school, covering pre-primary to Class 12, which will be allotted to the basic education department at the nominal rate of Re 1 per square meter. A stipulation is in place ensuring the land’s use remains solely for the school and cannot be transferred for alternate uses.
The board also received updates on the state government’s rehabilitation policy for stalled projects. Out of 11 developers included in this policy, nine have paid 25% of their net dues, amounting to around Rs 402 crore. This progress impacts nearly 6,800 homebuyers and enables subsequent steps to revive halted projects and facilitate home delivery.
On the topic of planning and tourism development, the board evaluated the Raya Heritage City project and YEIDA’s master plans for Agra Urban City, approving public objections to the draft plans. A detailed project report has been created for developing Raya Heritage City via a public-private partnership model.
The revised layout encompasses a 17.5-hectare Pilgrim Gateway Complex near the Vrindavan bypass, which YEIDA plans to either acquire or purchase. Additionally, the authority is exploring residential schemes near the tourism area to address housing needs in Vrindavan. Families potentially displaced by the Banke Bihari temple project might be prioritized for reservations in residential schemes in the Heritage City area, consistent with existing policies.
Regarding farmers’ matters, the board indicated that YEIDA disbursed approximately Rs 3,000 crore as additional compensation between 2014-15 and 2025-26 for land acquired from 29 villages. Reservation letters for 7% abadi plots have been issued to about 6,300 farmers, with various stages of development underway across these villages.
Progress reports concerning the apparel park, handicraft park, MSME park, toy park, and medical device park were also presented to the board. Financial updates revealed capital receipts increased from around Rs 2,200 crore to nearly Rs 2,700 crore within a year, whereas revenue expenditure surged from about Rs 2,300 crore to roughly Rs 5,500 crore during the same time frame.
