Greater Noida: The Yamuna Expressway Industrial Development Authority’s (YEIDA) board has approved a Medical College on 20 acres of land in sector 17 along the Yamuna Expressway in its 83rd board meeting held on Monday. Apart from this, the board has allowed part payment for the 64.7 per cent additional farmers’ compensation in total four instalments benefitting nearly 8000 property buyers. The meeting was chaired by principal secretary (industrial development) Alok Kumar.
According to YEIDA’s Chief Executive Officer (CEO) Arun Vir Singh, the authority granted concessions to allottees who had remitted 64.7 percent additional compensation, permitting outstanding settlement amounts in four instalments. “Those who want to participate must apply in the scheme online by March 31, requiring 25 per cent payment within 60 days, interest-free, with remaining amounts payable in three instalments over two years. Furthermore, allottees have been granted nine-months extension to finish construction on their plots without penalties,” said Singh.
The board reached a conclusion on standardising the industrial plot allocation policy to match those of Noida and Greater Noida authorities. For plots up to 8,000 sqm, e-auctions would be utilised, while larger parcels would be allocated through interviews.
However, YEIDA plans to adjust the objective parameters for interview-based allocations. “YEIDA’s development trajectory differs from that in Noida and Greater Noida. So, we need customised parameters for large plot allotments. The revised criteria will be discussed at the next board meeting,” said YEIDA CEO Arun Vir Singh.
YEIDA approved 100 electric buses as part of a 500-bus plan, with Noida getting 300 and Greater Noida 100. An additional 150 buses will improve links to Noida Airport. The board approved 51 proposals, including Master Plan 2041 and farmer compensation.