After lying dormant for ten years, YEIDA reclaims plots from firms.

On March 31, the Yamuna Expressway Industrial Development Authority (YEIDA) cancelled plots allotted to eight builders who had failed to begin construction on sites handed over to them over a decade ago.

In total, the industrial authority reclaimed 2.2 lakh square metres from private developers and issued a forfeiture order for Rs 27.3 crore in deposits.

According to officials, while seven of the developers were given plots ranging from 10,000 to 29,000 sqmt in Sector 22D, one agency was given over 82,000 sqmt in Sector 22A. These plots were assigned in 2011-12, but there has been little progress since then.

The decision to reclaim the plots was made at a meeting presided over by YEIDA CEO Arun Vir Singh. “After all these years, the authority has finally decided to cancel the lease deeds.” moreover, the developers had failed to meet their financial obligations. “New allotments will be made quickly,” according to a government official.

Omnis Developers, which had been assigned 82,836 square metres in Sector 22 A, was the most financially disadvantaged, forfeiting Rs 11 crore. Ajay Realcon came next, putting up Rs 5.3 crore. The authority also seized Rs 3.4 crore from Starcity Infradevelopers, which had been given 28,783 square metres.

The authority also targeted UG Infrastructures, Trivelli Projects, Sunwhite Infratech, Pratham Realventure, and Growth Infradevelopers.

Meanwhile, the Jewar airport project not only creates new investment opportunities in the region, but it also attracts unlicensed builders who try to sell properties to unsuspecting buyers. In response to such complaints, YEIDA has already taken action against some unscrupulous developers in recent days.

The authority had demolished several illegal structures near the airport site the day before, clearing over 50,000 square metres of prime real estate. According to officials, the illegal colonies were being built in the Bulandshahr district villages of Jhhajar and Enayatpur.

The villages are approximately 6 kilometres from the airport. In addition, FIRs were filed against the accused developers.

“Reports have been prepared against several such builders.” “Action will be taken against many others in the near future,” CEO Singh stated. He also warned residents not to invest in such properties, saying the government would not be liable for any losses they suffered.