Letter to Shri. Santosh Yadav, CEO, Yamuna Expressway Authority...
Safal Suri (gmail.com)
Shri. Santosh Yadav
Chief Executive Officer,
Yamuna Expressway Industrial Development Authority,
First Floor, Commercial Complex, Sector Omega 1,
Greater Noida, Dist. Gautam Budh Nagar,
Uttar Pradesh 201310
Ref: Sector 18 & Sector 20
Sub: 1. Conveying concerns of allottees/transferee of plots in Sector 18 & 20
2. Request a meeting of Managing Committee (YERWA) with the Chairman/CEO
Dear Sir,
“Yamuna Expressway Residential-Plot-Owners Welfare Association (YERWA)” is a registered association, representing the voice and interest of it’s members, the plot owners of Sector 18 & 20. YERWA is also party in almost two dozen important cases, at Hon’ble Allahabad High Court, pertaining to Sector 18 & 20.
We approach your good self to humbly convey few important concerns, apprehensions and demands of the allottees/owners of Sector 18 & 20. Please find the same listed below, along with short description.
Sir, we urge and request an open minded and logical review of the issues raised below and an audience with your good self.
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Possession of plots
Possession of 21,000 plots allotted to general public via draw of lot, that took place in October/November 2009, is our top most priority. The said plots were to be handed over to the allottees in 4 years (October/November 2013), but we are still awaiting the possession.
Till date possession of not even a single plot has been provided by the authority. We understand that the delay is partially because of stay order issued by Hon’ble Allahabad High Court. But at the same time, the authority cannot wash hands from its responsibility.
No farmers would have approached the courts had the land in Sector 18/20 been acquired via correct procedure. Therefore, without a doubt, the authority is directly responsible for the all the litigation and delay in handing over the possession of plots to allottees.
Suggestion: Providing the possession of 21,000 plots should be number 1 priority of the authority. The authority must do whatever needs to be done, either, procedurally (provide additional compensation to farmer’s at their doorsteps) or legally (expedite the cases pending at Hon’ble Allahabad High Court for over 4 years), to provide possession of 21,000 plots to allottees, without any further delay. The authority must account for delay of every single day.
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General Power of Attorney (GPA)
Permission to transfer the ownership of the property via “General Power of Attorney (GPA)” is one of the oldest demands of thousands of allottees and buyers at Sector 18 & 20.
Transferring the ownership of the property via “General Power of Attorney (GPA)” is an established legal instrument, permitted by the law of the country. GPA is also permitted and practices by “Noida Authority” and “Greater Noida Authority”. However, the same is not permitted by Yamuna Expressway Authority.
It is important to understand that by permitting “Transfer of Allotment Rights (TAR)” and “Agreement To Lease (ATL)” via GPA, Yamuna Expressway Authority will not only successfully address the long standing demand of thousands of allottees/ owners, but in the process, the authority will also earn much needed funds for current and future developments being undertaken by the authority.
Suggestion: The authority should immediately allow, not just the “Transfer of Allotment Rights (TAR)”, but also execution of “Agreement To Lease (ATL)” via “General Power of Attorney (GPA)”, so that thousands of legitimate allottees/owners at Sector 18 & 20 are able to formally transfer the property in their name and subsequently execute agreement to lease. And in the process the authority earns substantial funds.
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Transfer of Allotment Rights (TAR)
During the board meeting of Yamuna Expressway Authority on 15th September 2014, some very important & far fetching decisions were taken. Not only were the Allotment Rates of Sector 18 & 20, were increased to Rs. 14,200/- per sq mtr (an increase of Rs. 1,800/-), but more importantly, the Transfer Charges were also dramatically increased, doubling them from 5% to 10%.
The unexpected, unwarranted and unjustified increase in transfer charges has done no good to anyone. Thousands of innocent owners in Sector 18 & 20 are unable to sell their property in this time of distress gripping Indian economy, because the recently increase and doubling of Transfer Charges have made transfer financially unviable and has scared potential buyers. No one seems interested in purchasing a property wherein the transfer itself cost almost 60% of the property value (two ATL & single TAR now cost Rs. 2,770/- per sq mtr).
It is important to understand that the property owners at Sector 18 & 20 are not the only sufferers. Transfer applications at the authority have also all but dried up and now even the authority is seriously suffering from the loss of revenue.
This is a classic case of putting first golden eggs or the golden hen. Clearly the decision to increase the allotment rate (second time in 2014) and doubling of transfer charges from 5% to 10%, was not only a bad and ill-timed decision, but it was actually opposite to rationale of providing additional comfort/facility to allottees in times of distress. The said decision has also cause crores of revenue loss to the authority.
Suggestion: We sturdily request you to kindly reverse the decision taken on 15th September 2014 to double transfer charges and revert the transfer charges to 5%. Doing so will not only provide much deserving relief to the allottees/owners wishing to sell their property in this time of financial distress, but the authority will also benefit by earning greater revenue by means of increased numbers of transfers of allotment rights.
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Agreement to Lease (ATL)
No other authority in Uttar Pradesh insists that the seller and the buyer execute “Agreement To Lease (ATL)” before and after transferring the property rights, except “Yamuna Expressway Authority”. In other words, no other authority forces the seller/buyer to pay registration amount TWICE, that too without the authority itself having physical possession of the property.
Understandably the authority and the district administration have the right to earn revenue whenever a transfer of property takes place. But forcing the allottees/owners to pay the registration charges TWICE is not only unjustified, unfair and illegal, but it also discourages transactions (as it increases the cost of transfer of property) and causes unnecessary and avoidable revenue loss to the authority and the district administration.
Suggestion: The authority and district administration needs to review the entire policy regarding “Agreement To Lease (ATL)”. Please understand, we are not against paying the revenue to the authority/government, however “Agreement To Lease (ATL)” must be (1) executed only once, and that too by the buyer only, as is legally correct and done by other authorities, and (2) ATL should be done only at original allotment rate, as mandated via recent notification by government of Uttar Pradesh.
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Allotment Rates
Ever since the allotment took place in October/November 2009, the authority has been regularly increasing the allotment rates. Although, the reason for regular increase in said rates maybe justified for (1) acquisition of fresh land and (2) development of the land already acquired, etc, as allottees/owners of plot of land promised by the authority to be provided in October/November 2013, we are puzzled, baffled and confused as to why the allottees be forced to pay any amount over and above the allotment rates and circle rates prevailing during October/November 2013 (when the possession was promised).
Suggestion: As the authority has failed to provide the physical possession of plots within the stipulated time of 4 years from the date of draw (October/November 2009), least the authority must do is provide a moratorium on allotment rates up to one year from the date of physical possession of the plot, to calculate the amounts payable by the owner for executing, “Transfer of Allotment Rights (TAR)”, at par with the allotment rates prevalent during October/November 2013 (when the possession was promised).
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Zero Period
In spite of not having physical possession of entire land (in sector 18 & 20), Yamuna Expressway Industrial Development Authority (YEA) not only allotted the land to 21,000 allottees, it is now unable to handover the possession. Not just that, the authority insists that the allottees (1) pay regular installments, (2) pay 12% interest on 16 half yearly installments, (3) pay 14% interest on delayed payments and (4) pay substantial amount on transfer of allotment rights.
We the allottees/owners of 21,000 plots in sector 18 & 20, not only placed our faith in the newly constituted authority when we paid for the plots allotted to us, but we continue to cooperate and work with the authority by meeting all the demands raised by the authority from time to time. However, the authority has completely failed in keeping to it’s promises, i.e., delivering the plots in 2013.
Suggestion: Given the fact that it has been 6 years and the allottees are still waiting for the possession of plots that was promised to be delivered in 2013, least the authority must do is cooperate with the allottees/owners and (1) stop charging interest from time it defaulted, i.e., October/November 2013 and (2) adjusts the interest amounts already paid by the allottees/owners in the principal amount. There should be a complete “Zero Period” on interest payment, as was done by Greater Noida Authority.
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Future Installments
It is well known that “Yamuna Expressway Authority (YEA)” is in need of money to fund future projects. If recent news paper articles are to be believed, Yamuna Expressway Authority is attempting to raise thousands of crores from bank on high interest rate.
Providing discount on payment of installments in advance can be one way by which the authority can raise substantial funds without resorting to expensive loans. That way, not only will the authority get much needed money, it will also provide much needed relief to those plot owners who are willing to pre-pay the installments, but are wary to do so because of continued interest on installments.
Suggestion: The authority should provide 2% discount (as it did to all allottees willing to pay the entire amount at the time of payment of allotment money in 2009/2010) to all allottees/owners of plots in Sector 18/20, on all part/complete payments of installments in advance.
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Additional amount
We have learnt from newspaper articles that the “Yamuna Expressway Industrial Development Authority (YEA)”, intends to impose additional cost of Rs. 1,330/- per sq mtr, on the allottees/owners of Sector 18 & 20. We strongly protests and unequivocally oppose any such arbitrary increase in allotment rate by Yamuna Expressway Industrial Development Authority (YEA).
Huge sums of money have already been paid by the allottees/transferees of Sector 18 & 20 to the Yamuna Expressway Authority (YEA), by virtue of (1) one time payments, (2) regular installments and (3) interest on installments (12%), (4) penalty on late payment of installment (14%), and (5) charges paid for execution of transfer of allotment rights. As a result, a large corpus of money has already accumulated with the authority and also, subsequent interest earned on it. At the same time, not much is being spent on the development of Sectors 18 & 20 as practically no physical development is taking place due to ongoing litigation at Hon’ble Allahabad High Court.
The issue of compensation is under litigation at Hon’ble Allahabad High Court and therefore, YERWA would like to inform the authority that it’s members SHALL PAY whatever increase is instructed by the Hon’ble Allahabad High Court. Until any such decision is passed by the Hon’ble court, YERWA requests Yamuna Expressway Industrial Development Authority (YEA) to not force it’s arbitrary decision on allottees/buyers of Sector 18 & 20.
Suggestion: The authority must pay, whatever increased compensation it may have decided to pay to the farmers, from it’s own resources. YERWA members shall willingly pay additional amount of Rs. 1330/- per sq mtr (or whatever the Hon’ble court decides), but only when (a) ordered by the court and (2) when actual possession of the plot is provided.
Sir, we once again request an open minded and logical review of the issues raised by us. Please understand, a logical approach, a liberal attitude, reasonable rates for transfer of property rights and simplified/steady rules from the authority will not only help allottees/owners and bring increased revenue to the authority, but it will also create a positive vibe, undeniably necessary for development of any city.
Sir, we request an earliest possible audience of the Managing Committee of YERWA with your good self. We are extremely keen to listen to your views and would very much like to convey our concerns and apprehensions in person.
Looking forward to an early and positive reply from your office.
Warm Regards,
Safal Suri
President, YERWA
9811182828
Rahul Yadav
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