YEIDA issues notices to ATS Group & Supertech to deposit Rs 332.6 crore in two weeks

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has issued notices
to ATS Group and Supertech to deposit Rs 332.6 crore in two weeks so that farmers can be
paid additional compensation.
If the developers fail to deposit the amount, YEIDA will recover it by cancelling the lease deed of
lands allotted to them under the commercial and institutional categories. Apart from ATS and
Supertech, YEIDA has issued notices to 13 other allottees under the institutional category to
clear Rs 2,377.2 crore in dues.
The notices are part of YEIDA’s plan to deposit 64.7% additional compensation amount to be
paid to farmers. In May this year, the Supreme Court had upheld the UP government’s decision
for enhancing the compensation of the farmers and rejected an appeal by real estate companies
opposing the move.

In its latest notice, YEIDA cited the Supreme Court order and asked the builders to deposit the
amount immediately.
Supertech has to pay Rs 172.7 crore to YEIDA. If it does not pay the amount, the authority will
confiscate 13,270 sqm of commercial and 25,000 sqm of institutional land. Similarly, ATS has
been asked to pay Rs 159.8 crore. The builder will lose 10,016sqm of commercial and
33,881sqm of institutional land if it does not pay.