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YEIDA has launched an online portal to support over 4,500 homebuyers impacted by stalled Jaiprakash Associates (JAL) housing projects, following the Allahabad High Court's directive to take over 12 unfinished schemes. The portal will allow buyers to register details, track updates, and choose to continue or exit projects. Consulting firm Currie & Brown has been appointed to assess project status, after which YEIDA will invite bids under the EPC model. A high-level oversight committee has also been formed. The court declared a 'zero period' from Feb 2020 to Mar 2024, exempting buyers from penalty dues during that time.
The Yamuna Expressway Industrial Development Authority (YEIDA) is set to introduce an online portal aimed at assisting over 4,500 homebuyers affected by the stalled housing projects of Jaiprakash Associates Limited (JAL). This initiative follows the Allahabad High Court's directive for YEIDA to take over and complete 12 incomplete housing projects previously managed by JAL. Advertisement
The portal will serve as a centralized platform for homebuyers to register their details, including project registration, payment history, and their preference to either continue with the project or opt out. It will also provide real-time updates and facilitate official communication, reducing the need for physical visits to YEIDA offices.
To assess the current condition of these housing schemes, YEIDA has engaged consulting firm Currie & Brown to conduct a comprehensive ground survey. The firm is expected to submit its report within 15 days, after which YEIDA will draft a request for proposal (RFP) to select a new developer under the Engineering, Procurement, and Construction (EPC) model to complete the construction.
A high-level oversight committee has been formed to supervise the completion of these projects. The committee includes the principal secretary of Industrial Development, chairman of UP-RERA or a nominated representative, YEIDA CEO Arun Vir Singh, a representative from the housing department, and an authorized homebuyer representative.
The Allahabad High Court has also declared the period from February 2020, when JAL's allotment was cancelled, to March 10, 2024, as a 'zero period.' During this time, homebuyers will not be liable to pay penalties or interest to the developer for their dues.
YEIDA's proactive approach aims to provide relief to thousands of homebuyers who have been waiting for years to take possession of their homes. The launch of the portal and the formation of the oversight committee are significant steps toward resolving the long-standing issues surrounding these stalled projects.
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