The Yamuna Expressway Industrial Development Authority (YEIDA) has made a firm decision not to extend the deadline for its one-time settlement (OTS) scheme, putting approximately 7,200 defaulting plot allottees at risk of recovery action if they fail to clear their outstanding dues by February 28. This critical resolution was finalized during YEIDA's 88th board meeting held on Friday, which was presided over by Alok Kumar, the Authority's chairperson and additional chief secretary for industrial development.
Final OTS Window Closes with Low Response
Officials revealed that YEIDA has already introduced the OTS scheme on seven separate occasions in previous years, and the current window, which opened on December 1, will mark the absolute final opportunity for defaulters. Despite total outstanding dues amounting to roughly Rs 4,950 crore, the response has been disappointingly low, with only 117 defaulters submitting applications so far. The board expressed that this turnout is significantly below their initial expectations, highlighting the urgency for remaining allottees to act promptly.
Key Approvals and Policy Updates
In other significant decisions from the meeting, the board greenlit the allotment of six acres in Sector 34 for the establishment of a chief minister's model composite school, catering to students from pre-primary through Class 12. This land will be allocated to the basic education department at a nominal rate of Re 1 per square metre, with a strict condition that it must be used exclusively for the school and cannot be transferred for any alternative purposes.
Progress on Stalled Projects and Tourism Development
The board also received a comprehensive briefing on the progress of the state government's rehabilitation policy for stalled real estate projects. Out of the 11 developers covered under this policy, nine have successfully deposited 25% of their net dues, totaling approximately Rs 402 crore. Officials noted that these projects involve nearly 6,800 homebuyers, and these deposits are crucial for initiating the next phases aimed at reviving the stalled developments and ensuring the eventual delivery of homes to buyers.
On the front of planning and tourism-led development, the board conducted a thorough review of the Raya Heritage City project and YEIDA's master plans for Agra Urban City. They approved the invitation of public objections to the draft plans, emphasizing community involvement in the planning process. A detailed project report has been meticulously prepared to develop Raya Heritage City under the Public-Private Partnership (PPP) model.
Infrastructure and Compensation Initiatives
The revised layout for Raya Heritage City includes a 17.5-hectare Pilgrim Gateway Complex near the Vrindavan bypass. For this component, YEIDA will either acquire the necessary land or purchase it outright. Additionally, the Authority is actively considering the introduction of residential schemes near the tourism zone to address the growing housing demand in Vrindavan. In line with existing policy, families that may be displaced due to the development of the Banke Bihari temple project could be prioritized for reservation in residential schemes within the Heritage City area.
Addressing farmers' concerns, the board was informed that YEIDA has disbursed about Rs 3,000 crore as additional compensation between the fiscal years 2014-15 and 2025-26. For land acquired from 29 villages, reservation letters for 7% abadi plots have been issued to approximately 6,300 farmers, with development work currently progressing at various stages across these villages.
Financial and Industrial Park Updates
Progress reports on several key industrial parks, including the apparel park, handicraft park, MSME park, toy park, and medical device park, were formally presented to the board. Financial updates indicated a positive trend in capital receipts, which increased from about Rs 2,200 crore to nearly Rs 2,700 crore over the past year. However, revenue expenditure also saw a significant rise, climbing from around Rs 2,300 crore to approximately Rs 5,500 crore during the same period, reflecting the Authority's expanded operational and developmental activities.
