No plots on ground yet highest transfer fees is reality of YEIDA plot allotment scam allege buyer

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Infuriated plot buyers who have invested their money in Yamuna Expressway Industrial Development Authority have alleged various scams to loot the innocent buyers and keep them away from their hard earned money.

Jitendra Singh, General Secretary of Residential Plot Owners Social Welfare Association today presented various documents and alleged that Yamuna Expressway is duping the investors through inordinate delay.

Jitnedra Singh informed that around 85-90% of payment has been already made to authority by the buyers. However despite that no development is being done on the ground in the concerned sectors. Out of 21,000 investors of YEIDA plot allotment scheme since 2009, only 55 allotment letters has been issued so far.

He further informed that YEIDA plot scheme has India’s first transfer policy that has two leases. Around 55% tax has to be paid while transferring the plot. Also as the plot is currently non-existent on the ground hence all the money of investors is blocked. No one can buy or sell the property that is only owned on paper and has no physical presence. It is causing grievance to various buyers.

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