YEIDA to earn Rs 413 crore from one-time settlement plan at simple interest

In a bid to give relief to the allottees hit by the pandemic, between October and December last year, YEIDA had come out with a one-time settlement plan.

The 2,700 allottees of the Yamuna Expressway Industrial Development Authority (YEIDA) availed of the benefits of the one-time settlement scheme launched last year. The scheme will earn YEIDA Rs 413 crore in revenue.

YEIDA had approved the payment scheme during its 71st board meeting in September last year to give interest waivers to allottees of all kinds of properties who had failed to clear their dues.

Out of the total number of allottees who took advantage of the scheme, 2,395 are owners of residential plots. In a bid to give relief to the allottees hit by the pandemic, between October and December last year, YEIDA had come out with a one-time settlement plan. As per the scheme launched, the applicants were relieved from paying the penal interest on the dues and were only necessary to pay a lump sum amount at simple interest.

Under the scheme, YEIDA had received a total of 2,688 applications, a maximum of 2,395 for residential properties, 274 for industries, 18 for institutes, and one application in the commercial category.

The authority had already earned a revenue of Rs 238 crore from the scheme till March and is expected to garner the remaining Rs 175 crore by September this year. Of the total amount earned till March, Rs 194.4 crore came from residential properties, Rs 35.3 crore from industrial, and Rs 8.8 crore from the institutional categories. The maximum number of 1,945 applications was received in November, followed by 424 in October and 319 in December.

By September, YEIDA is expected to earn Rs 128.6 crore from residential properties, Rs 36.9 crore from industrial, Rs 9.3 crore from institutional, and Rs 69 lakh from commercial categories.

Amid the pandemic, YEIDA had approved the payment scheme during its 71st board meeting in September last year to give interest waivers to allottees of all kinds of properties who had failed to clear their dues.