Yamuna Expressway Industrial Development Authority has launched a residential plots scheme in Sector-17 in Yamuna Expressway. Allotment of a plot in YEIDA Residential Plots Scheme RPS-03/2016 will be subject to fulfillment of certain terms and conditions.
YEIDA Residential Plots Scheme RPS-03/2016 – Terms and Conditions for the Allotment of Plots
Greater Noida (Uttar Pradesh, India), January 07, 2016
The Yamuna Expressway Industrial Development Authority (YEIDA) has launched a leasehold residential plots scheme RPS-03 (YEIDA Scheme Code RPS-03/2016) in Yamuna Expressway area in District Gautam Budh Nagar of Uttar Pradesh.
In YEIDA Residential Plots Scheme RPS-03, the Yamuna Expressway Industrial Development Authority has offered total 1850 residential plots for the different categories.
Registration for the YEIDA Residential Plots Scheme RPS-03/2016 is open for the citizens of India from January 01, 2016 to February 02, 2016.
The Yamuna Expressway Industrial Development Authority will allot a plot in the YEIDA Residential Plots Scheme RPS-03/2016 subject to fulfillment of certain terms and conditions.
The General Terms and Conditions for the YEIDA Residential Plots Scheme RPS-03/2016
1. Allotment of a residential plot in the YEIDA Residential Plots Scheme RPS-03/2016 shall be governed by the provisions contained in the Uttar Pradesh Industrial Area Development Act, 1976 (U.P. Act No. 6 of 1976).
2. Allotment of the residential plot in the YEIDA Residential Plots Scheme RPS-03 shall be made to the eligible applicants through a manual lottery draw of lots.
3. The tentative date of lottery draw of lots for YEIDA RPS-03 scheme is April 27, 2016. Any change in the date of actual lottery draw of lots shall be informed to the applicants by means of publication in the daily newspaper(s) and will also be available at the website of Yamuna Expressway Industrial Development Authority.
4. Number of the residential plots available for allotment in YEIDA Residential Plots Scheme RPS-03/2016 may increase or decrease at the time of lottery draw.
5. If the applications received are less than the residential plots reserved under any reserved category, the remaining plots will be transferred to the General Category Applicants at the time of lottery draw of lots.
6. On allotment of a residential plot, the allottee shall be informed of the dues payable for the said plot through an allotment letter.
7. The Yamuna Expressway Industrial Development Authority is fully authorized to fix the final prices for the residential plots developed by it, and its decision in this regard shall be final.
8. The area of a residential plot allotted in the YEIDA Residential Plots Scheme RPS-03 may slightly vary at the time of handing over of the possession. The premium of the residential plot will proportionately vary due to such variation. If such variation is less than or equal to 10%, no change in location or surrender shall be allowed. However, if such variation is more than 10%, the allottee shall have the option of surrendering the allotment and take back entire money deposited by him or her with 4% simple interest.
9. The present cost or price of the residential plot in the YEIDA Residential Plots Scheme RPS-03/2016 is tentative to the extent that any enhancement in the cost of land awarded by the Competent Authority under the Land Acquisition Act shall also be payable proportionately, as determined by the Yamuna Expressway Industrial Development Authority.
10. The price of the plot may vary at the time of handing over possession of the allotted plot. The price variation either may be due to increase in the development cost of the plots or due to liability on the part of the Yamuna Expressway Industrial Development Authority to pay enhanced land compensation or acquisition cost or ex-gratia as per the order of the Court or by the State Government or by the YEIDA themselves. Therefore, the lessee or allottee should agree and pledge to pay the proportionate increase in the cost of plot and shall pay such increase in the price, as demanded by the Yamuna Expressway Industrial Development Authority on or before execution of the lease deed for the allotted plot, within a specific period of its demand.
11. The allottee will accept the residential plot on “as is where is basis” on lease from the Yamuna Expressway Industrial Development Authority for a period of 90 years unconditionally.
12. No change shall be permitted in the application category of an applicant in any circumstances after the registration has been done for YEIDA Residential Plots Scheme RPS-03.
13. Only such applications shall be deemed to be valid, which are accompanied by the specific earnest money in the form of Demand Draft, Banker’s Cheque, or Pay Order in favor of the ‘Yamuna Expressway Industrial Development Authority’ drawn at Greater Noida, Noida, or Delhi. However, the Yamuna Expressway Industrial Development Authority shall not accept earnest money deposit in cash.
14. The cost and expenses of preparation, stamping and registering the legal documents and its copies and all other incidental expenses will be borne by the allottee, and who will also pay the stamp duty of transfer of immovable property levied or any other duty or charge that may be levied by any authority empowered in this behalf.
15. The allottee will be liable to pay all rates, taxes, charges and assessment of every description imposed by any Authority empowered in this behalf, in respect of the residential plot and by any other statutory body, whether such charges are imposed on the residential plot or on the building constructed thereon, from time to time. Service Tax, if applicable, shall also be borne by the allottee(s).
16. The allottee at his or her expense will take permission for sewerage, electricity, and water connections for the residential plot allotted to him or her from the concerned departments of the Authority or from the concerned competent authority in this regard.
17. The allottee or lessee will have to complete the construction of 50% of maximum permissible F.A.R area on the residential plot and obtain occupancy certificate from the Yamuna Expressway Industrial Development Authority within 3 years from due date of execution of lease deed. In case the allottee or lessee does not construct the building on the allotted residential plot within prescribed time period, the extension of time can be granted on payment of extension charges at the rates of 4% of the total premium of plot for the first year, 5% of the total premium of plot for the second year, 6% of the total premium of plot for the third year, and beyond 3 years – 4% of the Sector allotment rate per square meter prevailing at the time of grant of such extension.
18. Allottees shall have to get the construction done on the residential plot allotted after getting the building plan sanctioned according to the Lease Deed and Building Regulations of the Yamuna Expressway Industrial Development Authority applicable at the time of allotment.
19. The allottee shall not be allowed to change the specifications approved in the sanctioned building plan for the residential plot. In case of any violation of any regulation or direction, the defect, if not compoundable could be got rectified by the Yamuna Expressway Industrial Development Authority and the expenses incurred in carrying out such work will be recovered from the allottee.
20. The allottee or lessee shall not be entitled to divide the allotted residential plot or to amalgamate it with any other plot.
21. The Yamuna Expressway Industrial Development Authority will hand over possession of the allotted plot after 3 years from issue of the allotment letter.
22. The allottee shall not use the plot for any purpose other than residential.
23. The address given in the application form for the YEIDA Residential Plots Scheme RPS-03/2016 should be complete. The applicant should inform about any change in the mailing address immediately to the Yamuna Expressway Industrial Development Authority and concerned bank.
24. If an applicant gives wrong information in an affidavit or application or shall hide any facts, the allotment to him or her shall be immediately cancelled and even if the residential plot is allotted, the Yamuna Expressway Industrial Development Authority shall be competent to cancel such allotment and take back possession of the plot.
25. The residential plot shall continue to vest in the Yamuna Expressway Industrial Development Authority until the entire consideration money together with interest and other amount, if any, due to the Yamuna Expressway Industrial Development Authority on account of the sale is paid.
26. If due to any “Force majeure” or such circumstances beyond the Yamuna Expressway Industrial Development Authority’s control, the Authority is unable to make allotment or give possession of the allotted residential plot, the entire registration money or the deposit, depending on the stage of allotment, will be refunded to the allottee along with a simple interest at the rate of 4% per annum.
27. The Yamuna Expressway Industrial Development Authority shall be fully competent to make or alter rules and regulations framed by it and these shall be binding on the registered applicants of YEIDA Residential Plots Scheme RPS-03/2016.
Resolution of a Dispute between Yamuna Expressway Industrial Development Authority and Allottee(s)
28. Any dispute between the Yamuna Expressway Industrial Development Authority and the allottee shall be subject to the territorial jurisdiction of the Civil Courts having jurisdiction over Greater Noida or the Courts designated by the Honorable High Court.
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