13 Years On, Buyers Still Wait For Plots Off Yamuna Eway, ET RealEstate

March 31, 2024

<p>File Photo</p>
File Photo

NOIDA: More than 1,400 people who had invested in an NRI township off Yamuna Expressway 13 years ago are yet to get developed plots to build homes.

Most of these plots in Sector 26A — spread across 125 acres — were sold by SDS Infracon between 2011 and 2015. Although the NRI township promised medical and educational institutions and a commercial complex, it still lacks basic civic amenities, such as electricity and water supply and proper roads and drains. Moreover, 800 plots are yet to be registered because the developer is yet to clear dues worth Rs 643 crore.

Yamuna Expressway Authority had recently announced it would approve the maps of houses to be built on 600 plots that were registered if the owners agreed to pay 64.7% additional compensation to farmers.

Plots owners are yet to make payments, citing the high rate — Rs 7,500 per sqm — as compensation.

Pranay Kathuria, one of the buyers, said, “Many people took loans to buy plots, but are now forced to live in rented houses and pay EMIs as well. We were never asked by the developer to pay compensation to farmers. Why should we pay them now, that too with interest?”

In June 2022, a group of plot buyers formed an association — NRI Township Yamuna Plots Owners Association — and moved the Allahabad high court seeking an order to the Authority to complete the remaining work through a co-developer.

Tarun Sharma, general secretary of the association, said, “The developer and the Authority are equally responsible for the buyers’ plight. How did the Authority allow registry for 600 plots when basic amenities were not there in the township? Moreover, when the developer started defaulting on EMIs, why no action was taken?”

Plot buyers also filed cases, following which the developer was booked in 2018 for allegedly siphoning off Rs 182 crore for other projects.

However, when police submitted a final report, it was rejected by a local court in July 2023. The cops were asked to carry out a fresh probe.

In response to this order, the developer approached the HC, where a case is being heard.

A representative of the builder told TOI the Authority that was supposed to provide facilities till the township, like electricity transmission lines, water pipelines, approach roads and drains.

According to him, the company’s job was to connect all these facilities internally and provide them to plot buyers. “For this, Rs 4.5 crore was also paid to the Authority,” he said, adding that the Authority also issued tenders for tubewells and power lines in 2020.

Arun Vir Singh, the Authority CEO, said they were trying to provide relief to plot buyers.

  • Published On Mar 31, 2024 at 11:00 AM IST

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