Yamuna Expressway Industrial Development Authority () is now lowering down the interest rates by 1.35% for the installments that the allottees are paying to it. This reduction in interest rates is likely to be implemented in the first week of June, after getting a nod in the authority board meeting.
Authority has plans to reduce the interest rates even further by 1.15% in the future. The Chairman of YEIDA has said that in the case of allottees, they are not interested in retaining the profits. The interest rates that they will receive from the banks will be straight away given to the allottees.
Such important step has been taken as the banks reduce the interest rates and the benefit had to be passed on to and shared with the allottees.
YEIDA officials have also been instructed to make sure that all the homebuyers or allottees who have made their investments in the region of Yamuna Expressway should be free from any kind of inconvenience.
The Authority is preparing itself to give the possession of over 15,000 residential flats and plots by the end of this year. A total of 3,055 allottees, who are a part of the first lot, have been issued the letters of possession by the authority. The latter has also been asked to speed up the process of handing over the possession to allottees.