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Thursday, March 23, 2023
HomeNewsTop NewsYEIDA to earn Rs 413 crore from one-time settlement scheme

YEIDA to earn Rs 413 crore from one-time settlement scheme

Between October and December last year, YEIDA had come out with the one-time settlement plan, giving relief to the allottees hit hard by the pandemic.

About 2,700 allottees of the Yamuna Expressway Industrial Development Authority (YEIDA) availed of the benefits of the one-time settlement scheme launched last year. The scheme will earn YEIDA Rs 413 crore in revenue.

Of the total number of allottees who availed of the scheme, 2,395 are owners of residential plots. Between October and December last year, YEIDA had come out with the one-time settlement plan, giving relief to the allottees hit hard by the pandemic. The applicants were exempted from paying the penal interest on the dues and were required to pay a lump sum amount at simple interest.

Under the scheme, YEIDA had received a total of 2,688 applications, a maximum of 2,395 for residential properties, 274 for industries, 18 for institutes and one application in the commercial category.

The authority had already earned a revenue of Rs 238 crore from the scheme till March and is expected to garner the remaining Rs 175 crore by September this year. Of the total amount earned till March, Rs 194.4 crore came from residential properties, Rs 35.3 crore from industrial and Rs 8.8 crore from the institutional categories. The maximum number of 1,945 applications were received in November, followed by 424 in October and 319 in December.

By September, YEIDA is expected to earn Rs 128.6 crore from residential properties, Rs 36.9 crore from industrial, Rs 9.3 crore from institutional and Rs 69 lakh from commercial categories.

Amid the pandemic, YEIDA had approved the payment scheme during its 71st board meeting in September last year to give interest waivers to allottees of all kinds of properties who had failed to clear their dues.

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