Latest news with #YEIDA
Time of India
10 hours ago
- Business
- Time of India
UP allows 14-year zero period waiver for Sunworld City
Noida: UP govt has asked Yamuna Expressway Industrial Development Authority (YEIDA) to grant a 14-year 'zero period' waiver to Sunworld City's stalled township project in Sector 22D. The relief came after it emerged that about 20 acres allotted for the project weren't even acquired when YEIDA handed the land over to the developer in 2011. The state government's industrial development department — which heard a revision petition filed by Sunworld City Pvt Ltd — directed YEIDA to waive not only penal interest but also extension charges and related dues for the 20 acres of land for the period from 2011 until now. The order also criticised YEIDA for failing to ensure complete possession of land that it had advertised as 'acquired' in its scheme brochure. The case dates back to 2011, when YEIDA set aside 103 acres for the township project. While the Authority claimed it had full possession of the land, lease deeds could only be executed for 65 acres in 2012. The remaining 38 acres were mired in court cases and stay orders. Complicating matters further, nearly 20 acres of the leased land turned out to be gram sabha property, which YEIDA didn't formally acquire till Dec 2017. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brownfield: Here's The Average Price of a 6-Hour Gutter Upgrade Read More Undo You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida Unacquired land wasn't the developer's only problems. The portion of land allotted by YEIDA was scattered across multiple parcels instead of being contiguous, making it practically impossible to develop a cohesive township. Most homebuyers withdrew from the project for the delay and received refunds as well, though some cases are still pending in various forums. Under the govt's recent order, YEIDA must recalculate Sunworld's outstanding dues considering the zero-period benefit and issue a fresh demand notice within a month. Sunworld City has also applied for the state govt's rehabilitation package for stalled projects and paid 25% of the earlier calculated dues under a special policy introduced in Dec 2023. The case's timeline reveals multiple administrative lapses. After winning the bid in 2011, Sunworld Infrastructure Ltd established Sunworld City Pvt Ltd for implementing the township. While YEIDA executed a lease deed for 65 acres in Sept 2012 and issued a possession certificate, the project's layout approval came only in March 2014. Following the introduction of the rehabilitation package, YEIDA initially calculated Sunworld's total dues at around Rs 660 crore, which required the developer to pay 25% (around Rs 165 crore) by Feb 29, 2024. After developer's review request, YEIDA revised the demand to Rs 103 crore, payable by Dec 31 last year. The developer's petition to the govt highlighted its inability to proceed with construction because of scattered, un-demarcated land and resistance from local farmers. "The company sought zero period benefits from the allotment date till the time of receiving complete physical possession, along with waiver of all related charges and penalties," an official said.
Time of India
a day ago
- Business
- Time of India
Interchange linking Yamuna eway, EPE to be ready next year
Noida: With the Noida airport likely to begin operations later this year, NHAI said construction of the long-stalled cloverleaf interchange linking Yamuna Expressway and Eastern Peripheral Expressway (EPE) will begin next month. Proposed in 2019 to improve regional connectivity, the cloverleaf interchange has been delayed over land acquisition, farmers' protests seeking higher compensation and costs. The interchange is expected to benefit commuters from Palwal, Kundali and Panipat, in addition to those coming from Meerut and Greater Noida. Currently, commuters travelling between Agra, Ghaziabad and west UP districts, like Hapur and Meerut, need to take a 15-20km detour via congested Pari Chowk and Kasna areas in Greater Noida from Yamuna Expressway to reach EPE and are frequently stuck in snarls. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida NHAI, which is to develop the interchange, said NCR EP Private Limited will construct four loops and four ramps spanning 11km near Jaganpur and Afzalpur villages, about 10km from the Yamuna Expressway's zero point. Officials said the construction is to start by Aug and the interchange is to be ready within a year thereafter. The project has faced several hurdles since it was first proposed over seven years ago. Initially awarded in 2019 to a Delhi-based contractor for Rs 75 crore with an 18-month timeline, the project stalled due to farmer protests over compensation and delays in land acquisition. After the original design, which included four loops, was revised to add ramps connecting 60m and 30m wide service roads running parallel to the expressway, the cost of the project was revised to Rs 123 crore in 2023, with the Yamuna Expressway Industrial Development Authority (YEIDA) agreeing to share 21% of the cost and NHAI the remaining 79%. Subsequently, the foundation stone was laid by then chief secretary DS Mishra on Dec 15, 2023. But fresh challenges emerged when the contractor demanded an additional Rs 22 crore, citing increased earthwork costs. YEIDA rejected the demand and referred the matter to NHAI, which also turned it down, stating that cost revisions were already approved and no further changes were permissible under the contract. The Authority then issued a notice warning the contractor to begin work by May 15, 2024, or face termination. YEIDA later decided to sign an MoU with NHAI for the construction of the interchange, ultimately handing over the entire responsibility to NHAI last year. The UP cabinet approved the handover in April this year. NHAI will now oversee not just the construction and design but also operation and maintenance, including toll collection. YEIDA retains ownership of the 60 hectares of land involved, while future policy decisions will rest with the state govt.
India Gazette
2 days ago
- Business
- India Gazette
SAEL to invest Rs 8,200 crore in major solar manufacturing hub in Uttar Pradesh
New Delhi [India], 14 July (India): In a landmark step towards bolstering India's renewable energy capacity, SAEL Industries Limited, through its subsidiary SAEL Solar P6 Private Limited, announced plans to invest approximately Rs 8,200 crore in an integrated solar manufacturing facility under the jurisdiction of the Yamuna Expressway Industrial Development Authority (YEIDA) in Greater Noida, Uttar Pradesh. The project will include a 5 GW solar cell manufacturing unit and a 5 GW solar module production line. Additionally, the facility will produce high-efficiency TOPCon (Tunnel Oxide Passivated Contact) solar cells, positioning itself as a major player in the global solar technology landscape. The Uttar Pradesh Chief Minister Yogi Adityanath, handed over a Letter of Comfort to Sukhbir Singh Awla, Co-Founder and Director of SAEL Industries Limited. Construction is expected to begin within the year under the Yamuna Expressway Industrial Development Authority (YEIDA). 'Uttar Pradesh is charting a bold and aggressive path towards renewable energy, setting an ambitious target of generating green energy. Projects like the one undertaken by SAEL's 8,000 crore are vital to achieving this. This is the future, and Uttar Pradesh is ready to lead,' said Chief Minister Yogi Adityanath. Sukhbir Awla highlighted the strategic importance of the project, saying, 'This facility will be a major leap for scaling our manufacturing capabilities and reinforcing our contribution to the future of solar manufacturing in India.' He further added that, 'Setting up this integrated facility in Uttar Pradesh allows us to bring technology and manufacturing close to home while contributing actively to India's clean energy transition. It aligns with the state's solar policy and national missions like Viksit Bharat @2047 and Atmanirbhar Bharat and enables us to contribute towards strengthening the domestic supply chain, reducing reliance on solar equipment imports.' Once operational, SAEL's total solar manufacturing capacity will increase to 8.5 GW. The facility also supports the company's backward integration strategy aimed at strengthening its growing Solar Independent Power Producer (IPP) portfolio, which currently stands at over 6.7 GW across India. (ANI)
Economic Times
5 days ago
- Business
- Economic Times
YEIDA draw result 2025: Check direct link, winners list, others key details
The Yamuna Expressway Industrial Development Authority (YEIDA) is conducting the draw of lots for its residential plot scheme in Sector 18 on Friday. Launched on April 21, the scheme offers 276 plots of 200 square metres each and has received over 54,000 applications during the month-long registration period. The draw will commence at 10 AM at the India Expo Mart and will be overseen by a panel of three retired High Court judges to ensure complete transparency. According to OSD Shailendra Bhatia, preparations are in full swing, with seating arrangements in place for around 2,000 attendees. Direct link to the YEIDA draw The entire process will be broadcast live on YEIDA's website, as well as on DD News UP, YouTube, Facebook, and other official social media platforms. Additionally, the proceedings will be photographed and recorded to maintain a clear record. Out of the 54,289 applications received, 64 were disqualified due to incomplete documentation. Following the resolution of objections, a final list of 54,225 eligible applicants has been prepared for the draw. YEIDA plot price Residential land prices in the area have been revised to Rs 35,000 per sqm — a 35% jump from the previous rate of Rs 25,900. Successful applicants will need to deposit Rs 7 lakh as a 10% registration fee, with the balance payable within 60 days of allotment. Allottees must complete construction within three years of executing the lease deed or will face time-extension charges. Allotment letters will be issued shortly after the draw. For those who are not allotted plots, YEIDA will initiate refunds of the booking amount directly to their bank accounts. The plots are located in Sector 18, Pocket 9B, close to the upcoming Noida International Airport.
Time of India
5 days ago
- Business
- Time of India
YEIDA draw result 2025: Check direct link, winners list, others key details
The Yamuna Expressway Industrial Development Authority ( YEIDA ) is conducting the draw of lots for its residential plot scheme in Sector 18 on Friday. Launched on April 21, the scheme offers 276 plots of 200 square metres each and has received over 54,000 applications during the month-long registration period. The draw will commence at 10 AM at the India Expo Mart and will be overseen by a panel of three retired High Court judges to ensure complete transparency. According to OSD Shailendra Bhatia, preparations are in full swing, with seating arrangements in place for around 2,000 attendees. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like أمين بوبا للشركات الصغيرة و المتوسطة. بوبا سجّل الآن Undo Direct link to the YEIDA draw The entire process will be broadcast live on YEIDA's website, as well as on DD News UP, YouTube, Facebook, and other official social media platforms. Additionally, the proceedings will be photographed and recorded to maintain a clear record. Out of the 54,289 applications received, 64 were disqualified due to incomplete documentation. Following the resolution of objections, a final list of 54,225 eligible applicants has been prepared for the draw. Live Events YEIDA plot price Residential land prices in the area have been revised to Rs 35,000 per sqm — a 35% jump from the previous rate of Rs 25,900. Successful applicants will need to deposit Rs 7 lakh as a 10% registration fee, with the balance payable within 60 days of allotment. Allottees must complete construction within three years of executing the lease deed or will face time-extension charges. Allotment letters will be issued shortly after the draw. For those who are not allotted plots, YEIDA will initiate refunds of the booking amount directly to their bank accounts. The plots are located in Sector 18, Pocket 9B, close to the upcoming Noida International Airport.
