Yamuna Expressway Authority
Yamuna Expressway Authority (YEA) Buys Plots Directly From Farmers
A revolution of sorts is reportedly unfolding at Gautam Buddh Nagar here, as the Yamuna Expressway Authority (YEA) has started purchasing plots directly from farmers. It made the first purchase on Friday evening.
Greater Noida sub-registrar Rajesh Tiwari informs, "On Friday two sale deeds were executed in favour of YEA by farmers of Atta Gujran and Gunpura for five hectares ."
The YEA will develop the land along the Yamuna (Taj) Expressway from Greater Noida to Agra.
Farmers here have been clamouring to have a final say in the sale of their lands. The government acquired their lands to carry out development projects after issuing notifications on the land.
"Earlier the land was acquired by the authority but no sale deed was executed. Under the direct purchase system, the sale deed is executed, yielding extra revenue in form of stamp duty. We earned stamp duty worth Rs 20 lakh from the two sale deeds," added Rajesh Tiwari.
YEA deputy CEO R.K. Singh said, "Stamp duty is borne by the authority. This will avoid litigation and development projects will not be hampered."
He further informed that the YEA had received over 100 applications from farmers who had agreed to sell their lands.
"Under the direct purchase scheme, the authority offers two options to farmers. Under Formula I, the land rate is fixed at Rs 700 per square metre. Besides the land cost, owners with ancestral property will get 6 per cent developed land near the village subject to a maximum limit of 2,500 square metre," the officer added.
However, the development charge would have to be paid by farmers. They will be eligible for one residential plot under 17.5 per cent reserved quota of farmers whose land is acquired," Singh added.
"Whereas in Formula II, the rate of land has been fixed at Rs 500 per square metre. The owners would be paid only for 90 per cent of the land sold. In lieu of 10 per cent, they can have 10 per cent developed residential land or 5 per cent developed commercial land. In this case, no development charge would be levied. Besides, ancestral farmers would be entitled to 6 per cent developed land and one residential plot under 17.5 per cent reserved category as in Formula I," Singh informed.
"The first sale deeds were executed under Formula I. But Formula II would be more beneficial to farmers as the appreciation of 10% residential or 5% commercial land would be phenomenal in four years. Moreover, under this option there is no maximum limit. The bigger the plot sold, the bigger the developed land they get," he said.
Meanwhile,political parties have jumped into the arena urging farmers not to sell their plots below Rs 25 lakh per bigha, which is around Rs 2,500 per square metre.
Though many wanted to sell the land under the direct purchase scheme, they are being forced to hold their decision till the state government accepts the higher rates.
A revolution of sorts is reportedly unfolding at Gautam Buddh Nagar here, as the Yamuna Expressway Authority (YEA) has started purchasing plots directly from farmers. It made the first purchase on Friday evening.
Greater Noida sub-registrar Rajesh Tiwari informs, "On Friday two sale deeds were executed in favour of YEA by farmers of Atta Gujran and Gunpura for five hectares ."
The YEA will develop the land along the Yamuna (Taj) Expressway from Greater Noida to Agra.
Farmers here have been clamouring to have a final say in the sale of their lands. The government acquired their lands to carry out development projects after issuing notifications on the land.
"Earlier the land was acquired by the authority but no sale deed was executed. Under the direct purchase system, the sale deed is executed, yielding extra revenue in form of stamp duty. We earned stamp duty worth Rs 20 lakh from the two sale deeds," added Rajesh Tiwari.
YEA deputy CEO R.K. Singh said, "Stamp duty is borne by the authority. This will avoid litigation and development projects will not be hampered."
He further informed that the YEA had received over 100 applications from farmers who had agreed to sell their lands.
"Under the direct purchase scheme, the authority offers two options to farmers. Under Formula I, the land rate is fixed at Rs 700 per square metre. Besides the land cost, owners with ancestral property will get 6 per cent developed land near the village subject to a maximum limit of 2,500 square metre," the officer added.
However, the development charge would have to be paid by farmers. They will be eligible for one residential plot under 17.5 per cent reserved quota of farmers whose land is acquired," Singh added.
"Whereas in Formula II, the rate of land has been fixed at Rs 500 per square metre. The owners would be paid only for 90 per cent of the land sold. In lieu of 10 per cent, they can have 10 per cent developed residential land or 5 per cent developed commercial land. In this case, no development charge would be levied. Besides, ancestral farmers would be entitled to 6 per cent developed land and one residential plot under 17.5 per cent reserved category as in Formula I," Singh informed.
"The first sale deeds were executed under Formula I. But Formula II would be more beneficial to farmers as the appreciation of 10% residential or 5% commercial land would be phenomenal in four years. Moreover, under this option there is no maximum limit. The bigger the plot sold, the bigger the developed land they get," he said.
Meanwhile,political parties have jumped into the arena urging farmers not to sell their plots below Rs 25 lakh per bigha, which is around Rs 2,500 per square metre.
Though many wanted to sell the land under the direct purchase scheme, they are being forced to hold their decision till the state government accepts the higher rates.