Possession of 21000 plots next July

Delhi/NCR
There is good news for buyers of plots along the Yamuna Expressway as the Yamuna Industrial Development Authority (YEIDA) announced on November 21 that 21,000 allottees will get possession by July next year.

The size of the plots ranges from 300 sqm to 4,000 sqm in sectors 18 and 20. The plots were put up for sale in the year 2009. But it faced several delays, however, as farmers from 77 villages, whose lands were acquired, demanded higher compensation. The plots were then priced at Rs 4,750 per sqm and were allotted through a lucky draw.

In August this year, the Uttar Pradesh government directed YEIDA to pay an enhanced compensation of 64.7% to the farmers. Earlier this month, YEIDA disbursed an enhanced compensation, by distributing cheques worth Rs 2.89 crore to farmers and took the possession of the land. Officials said they held camps to expedite the process.

Farmers who withdrew their legal petitions also got the hiked compensation, they said.

“Till now, we have distributed nearly Rs 20 crore to farmers and have taken possession of around 54 hectares,” said an official. Once the possession is complete, the land will be handed over to the allottees, he added.

Source:http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/possession-of-21000-plots-next-july/78903.html