One-time settlement scheme for defaulting Yamuna Expressway plot allottees

GREATER NOIDA: Allottees who got land along the Yamuna Expressway but defaulted on payments will now be able to apply for the one-time settlement (OTS) scheme and pay money online.

The Yamuna Expressway Authority has set up a portal to handle the end-to-end process online. Officials say the OTS scheme launched from Friday is expected to generate a positive response this time as YEIDA has decided to waive off the compounded penal amount in entirety and will only levy simple interest.

YEIDA CEO Arun Vir Singh said, “The scheme is available for all allottees, including the ones given group housing plots. An exclusive dashboard has been created which has details of all the allottees. The dashboard will show how much an allottee owes to the authority as per the amount compounded with penal interest and the recalculated amount as per simple interest.”

Allottees are expected to get benefits to the tune of 25% to 40%, according to officials. YEIDA has more than 30,000 individual allottees at present. The Authority has been launching schemes since 2009.

Allottees will have to pay up processing fees and token amount while applying for the OTS scheme. The token amount for residential plot owners has been kept as Rs 10,000 while that for industrial and commercial units will be Rs 1 lakh. Group housing plot allottees will have to pay up Rs 5 lakh. The token amount will be adjusted in the final payment.

According to YEIDA officials, allottees who have already paid up their dues are not eligible to apply. Also those who have moved courts or tribunals and other adjudicating authorities against YEIDA will have to withdraw their pleas. Member of the Yamuna Expressway Residential Plot Owners Welfare Association, Safal Suri said, “The scheme is going to benefit a lot of allottees under various categories.”