Yamuna Expressway Authority Start New Transfer Policy

Published: 25th January 2010
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If you don't get any plot in the Yamuna residential draw, do not be unduly perturbed. Now, a new transfer policy will enable you to possess a residential plot, if the allottee is willing to transfer the property to you.

To change the power of attorney and rights over the property, Yamuna expressway industrial development authority has already launched the new transfer policy. For this, an allottee has to pay 4.5% additional fee as transfer charge. The new policy is being applied for the entire 21 thousands residential plots up for the draw. According to Mohinder Singh, CEO of Yamuna Expressway Development Authority, the new transfer policy has been implemented.

All along the non-stop 165 km long Yamuna Expressway, new residential schemes have been launched, in Sectors 18 and 20, on a 35-minute drive from Parichowk. To develop the residential sector, the revised structure Master Plan has already been finalized and approved by the board of Yamuna Expressway Industrial Development Authority (YEIDA), one of the biggest authorities in the NCR. The feasibility study has been completed by M/s L&T Ramboll and has been positive. The consultant has proposed that the project of airport and SEZ should be taken up together. The airport is proposed to be a passenger and cargo terminal. The project has already been sent for approval to the Centre by the UP government. The development of Yamuna Zones will take place in two phases. Already, the Singapore-based Manhert Company has drafted a plan for roads and transport, while ICA company has formulated a road map for water, sewers and drainage.

After the success of the scheme in which 10,000 residential plots in YIDA had been launched, megabudget schemes for industrial, commercial, warehousing, IT plots have also been drafted. Out of 35,000 hectare, 6,000 acres of the land has already been developed, between the Yamuna and the GT Road. It will have much bigger sectors compared to what Noida-Greater Noida currently have. The entire project will be developed in three phases. In phase one, 35,000 hectares is being developed, up to Jewar.

YEIDA also offers land for mega-institutional development. Recently, the authority has allotted 14 institutional and IT plots at the rate of Rs 1,750 per sq metre.

It is planned that large projects that cannot be accommodated in Noida or Greater Noida would come up here. The Yamuna region, which is divided into 23 zones, includes residential, industrial, institutional and commercial sectors. A number of such zones will come up all along the Yamuna Expressway right up to Agra.

Each zone has 2,500 acres of land. The manner of development is based on priority. Out of 35,000 hectares, 35-40% of the area has been developed for main commercial activity like industrial, IT, institutional, warehousing, transport, sports, among others. The remaining area, except the green area, is being developed for ancillary and infrastructure support purposes, including residential. For Formula One, the possession of 1,025 hectares land has already been given to JPSK Pvt Limited.

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