YEIDA to Issue Fresh Leases in Jaiprakash Associates’ Sports City Project After Court Order

The Yamuna Expressway Industrial Development Authority (YEIDA) has announced that it will execute fresh sub-lease agreements directly with developers whose housing projects lie within the Special Development Zone (SDZ) originally allotted to Jaiprakash Associates Limited (JAL).

This move comes after a significant Allahabad High Court ruling on March 10, which upheld YEIDA’s 2020 decision to cancel JAL’s 1,000-hectare land allotment but also protected the legal rights of sub-lessees — builders who had previously acquired parts of this land.

Developers Can Now Apply Through YEIDA’s Portal

YEIDA CEO Arun Vir Singh confirmed that developers affected by the ruling can now apply for new leases via the authority’s online portal. The portal is now live, and the last date for developers and individual homebuyers to submit documents is June 21, as per a Hindustan Times news report.

Court-Mandated Timeline for Lease Execution in JAL’s Sports City Zone

The Allahabad High Court directed YEIDA to serve individual notices to all sub-lessees within 4 weeks and publish a public notice to ensure transparency. The authority must complete all lease-related formalities within 12 weeks, after which developers will have an additional 8 weeks to sign the new agreements.

In a buyer-friendly move, the court has instructed YEIDA to bear the stamp duty and registration costs, reducing the financial burden on affected homebuyers.

Background of the Dispute and Future Developments

YEIDA had originally cancelled JAL’s allotment in February 2020 due to unpaid development charges. JAL had acquired the land in 2008 to develop a Sports City around the Buddh International Circuit but failed to fulfill its obligations. After years of litigation, the high court’s verdict upheld the cancellation while protecting the interests of sub-lessees.

Although YEIDA has set up a monitoring committee and is drafting a revival plan, the appointment of a new construction partner is currently on hold, pending a Supreme Court hearing scheduled for July 19.

Read More: Jaiprakash Associates Attracts Strong Interest as Bidding Deadline Nears.

Conclusion

YEIDA’s move to issue fresh leases directly to developers in the Special Development Zone offers long-awaited clarity for thousands of homebuyers. With the court safeguarding buyer interests and mandating timelines, the authority is now tasked with executing leases and reviving stalled projects. However, the final roadmap will also hinge on the Supreme Court’s decision next month.

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