The Yamuna Expressway Industrial Development Authority (YEIDA) has decided to allow allottees six months more to register their plots (lease deeds) and start constructions on them. The move is expected to benefit around 42,000 allottees.
The beneficiaries have also been allowed to pay the outstanding amount in three instalments. The decisions were taken during the YEDA board meeting last week to provide relief to allottees who faced a financial crunch because of the pandemic.
“Following a request from the allottees in the wake of the pandemic and the non-distribution of compensation among farmers, the last date for the lease deeds to be executed in all residential buildings, plots, industrial and institutional schemes has been extended till September 30. The benefits will be forwarded to only those allottees who have been issued a checklist for registry. The authority was earlier imposing penalties on those defaulters. Now, all such allottees would benefit from this exemption,” an official said.
In Sector 26A, 800 allottees have been given till December to complete the construction of buildings because of lack of amenities provided by the developer. The financial loss caused to YEIDA due to this extension will have to be reimbursed by the developer.
To maintain the financial liquidity of the authority, a policy of re-scheduling the overdue amount was approved by the board last week. The allottees can deposit the outstanding amount in three instalments now.
While rescheduling the overdue amount, an undertaking will be taken from each allottee, leaseholder or sub-lease holder that if the instalments are not paid on time, YEIDA could cancel the allotment without any prior notice. The facility of rescheduling would be allowed for only those allottees who have executed the lease deeds.
