Yamuna Expressway properties become costlier
Properties along Yamuna Expressway have just become costlier, after Yamuna Expressway Industrial Development Authority (YEIDA), in a board meeting on Monday, passed a proposal to hike land allotment rates.
Residential and commercial land allotment rates in the area have been increased by 23 percent and 24 percent, respectively, while industrial and institutional land rates have been raised by 10.9 percent and 10.76 percent, respectively. There is some relief for those who are planning to buy flats under group housing schemes, as rates for those have been hiked by only 5.35 percent.
YEIDA CEO P C Gupta said the authority needs funds to address farmer’s issues and to speed up development work. The authority will have to collect Rs 2,875 crore in the next two years to pay additional compensation for farmers. We thus had no option but to raise allotment rates. Still, compared to other NCR cities, this belt, loaded with world-class infrastructure, is affordable said Gupta.
This is mainly because of the speeding development that is taking place in this particular area as mentioned by the authorities.
Source: The Times of India
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