Green Bay Infrastructure Private Limited has paid Rs. 33.00 Cr. till 26.06.2025 to Yamuna Expressway Industrial Development Authority against the outstanding amount of Rs. 110 Cr., which is 25% of the total due after recalculation as per recommendations of the Amitabh Kant Committee, for its Township TS-06.
Along with this, the promoter has expressed its commitment to pay the remaining amount and has requested the Authority to provide time extension of 2 months for payment of the remaining due. The promoter has offered to submit a notarized affidavit to the Authority for the commitment. On June 18, 2025, the promoter had been directed by the Yamuna Authority to pay 25% of the outstanding amount of Rs. 441 Cr. by June 30.
The promoter has claimed that till date, they could not obtain 100% possession of the plot allotted to them by the Authority. Farmers are still cultivating on many parts of the plot, which is hindering the development of the plot. The part occupied by farmers comprises approximately 30-35% of the plot which is huge.
Apart from this, a request has been made to the Authority to grant permission to sublease the commercial part of the plot. This will fuel the development work on the site and interrupted sale to the buyers. The money received from the sales will be used on priority to pay the remaining land dues to the Authority.
Amit Sharma, Project Director, Green Bay Golf Village, a project of Green Bay Infrastructure, says that due to lack of full possession of the land, the development and sale of the project is being affected adversely. Cultivation by a farmer in the middle portion of the allotted plot gives a feeling of insecurity to home buyer regarding his investment and raises questions on the possession of the land after allotment. We have regularly informed the Authority in this regard but have not received any positive response.
Sharma also informed that they are committed to pay 100% land due to the Authority but we need support from the Authority to extend the time line, compensate the farmers, ensure complete possession of the allotted land and permit the sublease of the commercial portion. All these measures will boost sales and collection of funds.
The promoter has been allotted the land in 2011 and a residential project, Green Bay Golf Village was launched by the promoter in the 100 acres town ship. Having approximately 690 residential plots, the project achieved completion in 2022 and completed registry of almost 300 plots. The promoter has been said to deposit land dues which stands approximately 441.00 Cr. after recalculation of dues as per recommendations of Amitabh Kant Committee.
