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YEIDA Allows Installment Payments for Increased Land Compensation

The Yamuna Expressway Industrial Development Authority (YEIDA) has announced a significant relief measure for property buyers by permitting installment payments for the 64.7% increased compensation allocated to farmers whose land was acquired for the Jewar Airport project. This decision is expected to benefit approximately 8,000 property buyers, offering them much-needed financial flexibility. YEIDA s Installment Plan for Property Buyers To ease the financial strain of a one-time payment, YEIDA has introduced a four-installment payment option for property buyers. Key Details of the Installment Scheme: Buyers must apply for the installment option by March 31, 2025. The first installment (25% of the total amount) must be deposited within two months after application. The remaining amount will be payable in three equal installments over six months. YEIDA has not provided any confirmation regarding relief on interest or penalties for delayed payments, except for a two-year window to clear outstanding dues. This structured approach reduces the immediate financial burden on buyers while ensuring that farmers receive their rightful compensation without delay. Other Key Decisions Taken by YEIDA During the recent YEIDA official meeting, several crucial discussions and decisions were made, including: 1. Uniform Industrial Plot Allotment Policy YEIDA is considering adopting a standardized policy for industrial plot allotments to align with Noida and Greater Noida authorities. This move aims to streamline the land allocation process and create a uniform industrial development framework. 2. Road Infrastructure Development YEIDA has decided to repair 25 roads within its sectors, despite these roads falling under the jurisdiction of the Public Works Department (PWD) and Rural Engineering Services (RES). This decision aims to enhance connectivity and infrastructure quality in the region. 3. Auction and Allotment of Plots YEIDA will auction plots up to 8,000 sq m, making them accessible to a wider range of investors and developers. Larger plots will be allotted through an interview-based selection process to ensure suitable allocation for different development needs. The authority will finalize interview parameters in its upcoming meetings, considering the unique developmental requirements of the YEIDA region. Impact on Property Buyers and Real Estate Market YEIDA s decision to allow installment payments for the increased land compensation is expected to: Reduce financial stress on property buyers, allowing them to plan their payments efficiently. Ensure continuous real estate investment momentum in the Jewar Airport region. Attract more investors by offering structured payment options and infrastructure improvements. This initiative highlights YEIDA s commitment to fostering a balanced and investor-friendly real estate ecosystem, while also ensuring that farmers receive fair compensation for their acquired land.