News

YEIDA Officials’ Land Under Authority Investigation

A committee has been formed by the chairman of Yamuna Expressway Industrial Development Authority to scrutinize the land that has been acquired and that was not needed by the government for its scheme.

The committee is being supervised by a chief executive officer, Amarnath Upadhyay and the introductory report will be prepared and filed likely by 30th of May. The officials of Yamuna Expressway, Noida and Greater Noida have been accused of buying agricultural land at very cheap rates and selling them at high rates for acquiring great profits. The officials had this same agricultural land acquired by YEIDA too.

The committee formed will look into the actions and accusations. Proper legal action will be taken against the officials in case the accusation of corruption is proven to be right.

A five-member committee has also been formed by the CEO of YEIDA to inspect the scam of Sector 9 which alleges 80 acres of land being acquired for the development of a power station on the Yamuna Expressway. It is supposed that the purchasing cost of this land from farmers was Rs.2 lakh per bigha while later, the cost of acquiring by YEIDA was Rs.10 lakh per bigha.

Team iPropUnited

Share
Published by
Team iPropUnited
Tags News

Recent Posts

Maha RERA directs Godrej Properties to refund the booking amount for a project initiated before RERA regulations.

The regulator determined that the project was ongoing when the real estate law came into…

1 week ago

The Importance of Due Diligence Before Purchasing Property

Due Diligence Before Purchasing Property, Due diligence is an essential step in any real estate…

2 weeks ago

Embassy Real Estate Investment Trust (REIT) has appointed Ritwik Bhattacharjee as the interim CEO.

This follows a SEBI order on November 4 directing Embassy REIT to suspend Aravind Maiya…

2 weeks ago

Macrotech acquires Bain Capital’s stake in three digital infrastructure entities for ₹307 crore.

Previously, Macrotech also acquired real estate firm Ivanhoe Cambridge's stake in the three entities, aligning…

2 weeks ago

Benefits of LEED-Certified Buildings for Investors and Tenants

LEED (Leadership in Energy and Environmental Design) certification has become a prestigious standard in the…

2 weeks ago

QIP issuances by real estate developers reached ₹12,801 crore from January to September 2024, marking the second-highest amount after the renewable energy sector

From January to September 2024, QIP issuances across all sectors totaled ₹75,923 crore, with real…

3 weeks ago

This website uses cookies.