In what would come as bad news for the allottees of Yamuna Expressway Industrial Development Authority (YEIDA), its 51st board meeting today decided to pay farmers 64.7 per cent increased compensation and pass on the burden to them.
While Noida and Greater Noida farmers were getting 64.7 per cent compensation and 10 per cent developed land as per an Allahabad High Court direction, YEIDA farmers were denied the same as their cases were still pending in high court.
The state government had given its approval for payment of the increased amount as 'no-litigation bonus'.
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"Today, YEIDA board approved the payment of no-litigation bonus of 64.7 per cent. However, farmers will have to withdraw court cases and give affidavits that they will not move court in future and will also not stop development work.
"YEIDA will require Rs 5,245 crore for the payment to farmers," said YEIDA Chief Executive Officer, PC Gupta.
"To compensate the loss, the burden will be passed on to allottees... 21,000 Residential Scheme, 2009, allottees will have to pay Rs 1,330 per sq.M.; 300 sq.M plot allottees will have to pay Rs 3.99 lakh; 500 sq.M allottees Rs 6.65 lakh and 1,000 sq.M allottees Rs 13.30 lakh.
"Residential township and group housing allottees will have to pay Rs 1,770 per sq.M; institution and mixed land use scheme allottees will have to pay Rs 600 per sq.M; Rs 2,200 crore will be recovered from Jaypee Infratech and JPSI," said Gupta.
"Allottees who do not want to pay the additional amount can surrender their allotment in 90 days. Their money will be refunded with 6 per cent annual interest.
"If they have paid one-time lease rent, that too will be refunded after deducting the lease rent till today," he added.
"Farmers whose land was acquired for the 2009 residential scheme would be paid the no-litigation bonus first so that the residential allottees can get possession of the plots," he said.
As the state government has also approved the amendments in abadi-land rules and regulations, the YEIDA board has approved the regularisation plan for YEIDA farmers and 3,000 to 5,000 sq.M abadi land would be regularised under certain terms.
The YEIDA board also approved the revised land compensation rates under direct the purchase scheme. These are: Rs 1,827 per sq.M for Gautam Budh Nagar; Rs 1,021 for Mathura and Hathras; Rs 1,088 for Aligarh and Rs 1,104 for Agra.
